"Otherwise $100k 1oo years ago would purchase a lot more wealth, you just wouldn't have access to modern technology."
Try living on $100K in 1900 (non-inflation-adjusted!), vs. $100K today. By the standards of the time, you'd be filthy rich... only you'd have no Internet, no TV, no radio, no air travel, no air conditioning, no antibiotics, no cellphones, etc., etc., etc.
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"Otherwise $100k 1oo years ago would purchase a lot more wealth, you just wouldn't have access to modern technology."
Try living on $100K in 1900 (non-inflation-adjusted!), vs. $100K today. By the standards of the time, you'd be filthy rich... only you'd have no Internet, no TV, no radio, no air travel, no air conditioning, no antibiotics, no cellphones, etc., etc., etc.