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Did the lifestyle of people actually decrease from the 60s to today? I don’t think that is possibly true. Pretty much no American man would choose to go back in time and live in the 1960s (at the age of 25) given the extra purchasing power... or any intervening time in between.

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I think the fact that people are trying to "Make America Great Again" means a lot of people would go back in time, especially men.

There are some rose-colored glasses involved, of course, but there are plenty of people who would trade some extra purchasing power for a better pace of life, more social cohesion, and the status that sibling-post mentions.

People care about status at least as much as their raw level of purchasing power.

A 25-year-old American man in 1960 had more status in society than a similar man today.

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