It was more “livable” because back then there simply not as much “stuff” that people needed to buy. It was housing, either in the form of rent or a mortgage, or food, which was much cheaper because people actually used to cook from scratch, clothes, and a radio for entertainment. You didn’t even necessarily have to have a car.
In other words, minimum wages were once livable, and now they are not. And back then, our economy did not crash because of livable minimum wages. I am glad that you are coming around!