What happened?

Inflation and Republican ran politics. Every time a Republican becomes President the Inflation rises over their Free trade policies and trickle down theories that never trickle down.

The cost of goods have gone up with the increases in wages. But not all things. Most clothing and home textiles today are at historic lows, when indexed against inflation. Even gasoline is cheaper today than it was 30 years ago, when adjusted for inflation.

People were also payed less too.

I agree with the inflation answer.

The value of the dollar has gone down due to the rise of the euro, wages have increased, as another answer said women began working, and labor unions were set up.

In the 50's $100 a week was Good Money.Compare buying power and things are about the same.

Women started working more frequently, making the dual income family the norm. The prices of things moved to match the available disposable incomes.

The labour rates kept going up cuz people thought that they weren't getting enough, and producers kept increasing the prices cuz they had to pay for labour and otherwise theyd go at loss and its still happening!

Greed. People got more materialistic and greed entered in.

Inflation.....

inflation