What no one saw clearly was that in the post war period, the economic party that had been running for 200 years in a small subset of the population was about to spread to much of the rest of the world.
The implications of this new convergence are profound and extensive. The costs of things will change. Goods and services that require human time and effort will become relatively more expensive, an inevitable consequence of the eventual decline of low cost underemployed labor in the global economy. Economic forces and incentives will try to make them less expensive by allocating more capital to labor and hence reducing the labor input required. But there are limits to substituting capital for labor, though these limits are moving as technology changes the art of the possible. The abundance of underemployed labor in the world economy has in a sense delayed the arrival of labor saving technology. But this will end in the current century.