I call bullshit. Read Hunter Thompson’s ‘Hell’s Angels.’ There’s a chapter where he runs down the economics of being a biker/hippie/artist circa 1970. An Angel could cut their hair and get a Union job as a stevedore and earn enough in six months to spend the next two years on the road. A part time waitress could earn enough to support herself and her musician boyfriend.

In 1960, minimum wage was $1.00/hour and the cost of the average house was $11,000.00 If wages had kept up with inflation, the minimum wage would be about $35.00/hour.

Also, in 1960, $1 million was considered a vast fortune. Now it’s what a rich guy pays for a party.