Modern society seems to have defined technology as that which beeps, rather than that which is useful for us, which is a shame. Gore-tex allows me to wear warm clothing that isn't heavy and doesn't feel sufficating. Pockets allow me to carry more things than hands alone can. There are more and more examples, and the "gee whiz" factor we have with electronic technology is well-ingrained into clothing technology, as witnessed by power ties and the greater part of women's clothing. (How can it be functional? Most of it doesn't have pockets!!)
Perhaps this is not so much modern society, but instead some segments thereof. Rock climbers have techno-geeks (who know all the latest shoes and can ramble on about which 'biners are better for what purpose) and backpackers ooh and aah over each other's ultralight gear (I've got a really spiffy waterfilter if you want to hear about it...).
Raver culture has the most technologically advanced clothing, and the most pragmatic. Stash pockets, backpacks, cellphone pockets, water bottle pockets. And from Lithium, [Packable Pants]:
I'm not being facetious. This stuff is kinda cool.