[dmichulke]

Technological advance is a confounding factor for basically any empirical discussion about economics and standard of living.

Any smooth annual negative impact below the rate of technological advance is very hard to detect due to this.

[tomrod]

I reckon if standard of living improves, so does my dollar per unit of happiness ratio improves, then a flat real wage isn't a terrible thing.

Of course, this belies the fact that wealth inequality increases. This means though the median may stay stable, the tails get fatter: or, in other words, the standard of living isn't necessarily getting better for everyone.