And the WWII generation committed vast amounts of all three of the above.
As others have mentioned, people need to take off their rose-colored glasses regarding the past.
I guess you didn't see my point that the WW2 generation was using up the capital of the previous generations. The capital is just about down to zero, now.
Also, keep in mind that the illegitimacy rate is now about one third of all births in the US (and about half in the UK). I don't have the figures for the 1940s at the tip of my brain, but IIRC it was in the single digits. That in itself is quite telling.
Sheesh, even when I was a kid it was unusual to have a divorced person move into the neighborhood.