It appears that significant social change, only occurs when things get really bad for the majority of people and a revolt, or threats of it are raised.

Otherwise what seems to happen throughout history, is that people gain power and use that to extend their leads indefinitely. Technology seems to make this process even more efficient and with a resulting inequality that is millions of times greater than what could be achieved 1000 years ago.

Now there seems to be no hope for better social conditions, because the powerful can isolate themselves almost completely while retaining their power with automated tools. In addition, we are in the age of constant distraction and stimulation (panem et circenses). The future of the average person doesn't seem very bright.

The world for nearly everyone is vastly better today than 1,000 years ago. The poor in America today live better lives, at least materially, than the aristocrats of just 200 years ago. It is a great irony that one of the biggest problems facing modern society is obesity-- food is plentiful to excess and labor-saving devices in every household.

Food is cheap but housing is expensive.

Yeah, you can get a cheap house. Somewhere were there are no jobs and you couldn't even buy that cheap food, because you wouldn't have any income.

Masses of homeless people are almost as angry as starving people.

Yes, but that is not what I meant. I meant that the difference in power between the most powerful and the least is growing. The counter to that, seems to be rapidly disappearing. Without a negative feedback, and with greater automation, the super powerful won't have any incentives to keep the average person happy. Our tools of power (revolt and production of goods and services) are disappearing. That could lead to a very good future or a very bad one.