From this standpoint, the worst thing that happened to the West was the end of the Cold War. Without a clarifying opposition and an overriding goal of survival and triumph, the culture has languished. It has happened in Europe during the postwar era, when western Europe has basked in the warmth of the American security umbrella. Unencumbered by a defense budget, the welfare states flourished even as the birth rates declined. The same is happening here, and research shows that even men's testosterone levels have declined.
When the future seems assured, one pays little attention to it. We have seen all this for many years already in Japan and western Europe, perhaps the most attenuated cultures on the planet. They don't bother even to replace themselves. The US is following in their footsteps and for the same reason--the desire to achieve security has surpassed the desire to achieve success.
I think the desire for a free ride is the problem. Our youth get degrees to secure a job and income, not to work and really apply the knowledge.