Measured in 1960 US$ the UK’s GDP per capita was 1181[1]. In 2016 US$ U.K. GDP per capita was 40,341[2]. Even if we assume the 2016 dollar is worth half as much as the 1960 one because of inflation the average U.K. resident is 15 times better off. If people wanted to live in 1960s houses with what people in the 1960s would have considered a lavish standard of living they could do it easily by working half the year, or having a part time job. The 1960s were already a hell of a lot better than 1930, when the essay was written.
If you want to live in the paradise Keynes described you can. That’s what the financial independence, retire early subculture is about[3]. Work for 20 years and retire instead of 40 or 50. Or those people who contract half the year and spend half of it in Thailand. If we wanted to take more of our compensation in leisure we absolutely could. People choose not to. They need to keep up with the Jones.
We have made those strides in productivity and they all went to rent seeking and taxation/regulation of small businesses and personal conduct (see also $150 red light cameras and $350,000 school admin salaries)
$150 for going on red light I have no problem with, do it few times and have driver's license revoked temporarily (as in Switzerland, on top of massive fee). That's how innocent people are killed, be it pedestrians or other drivers, by arrogant/DUI folks.
I understand that on empty roads at 3am in the middle of nowhere there are no consequences whatsoever, but generally that's a big infraction. Just watch few car crash compilations, ignoring lights is like 50% of the reason and the results are often very grim
You might be assuming the cameras work as they do in Switzerland.
In the US a common scenario is a private company installs the cameras for free and gets to collect most of the revenue. They adjust the yellow timing downward so that you don't have time to stop between the light turning yellow and it going to red. Then they send tickets in the mail to people who ran the light. Then if you do a study proving that they adjusted the timing downward to unsafe levels as a state sponsored scam, you get arrested and fined for "unlicensed practice of engineering".
