I had an odd life, I lived in the projects as a child until I was sent to my grandfathers farm for 6~ years, and after that, back to the violent city I had originally lived in. I was at a huge disadvantage compared to my peers but from the hard word I was subjected to in those 6 years (work ethic it taught me), pure luck of getting into computer science (thanks to John Carmack via doom/quake), and meeting the right people, I was able to work much harder than those around me and rise up quickly through the worlds biggest tech companies, make a ton of money to the point where I was able to retire at 40 (though I didn't and still work).
To answer your question, in my view, that's what was lost -- a connection to brutal hard work that keeps the world moving forward.
The explosive growth of the software industry over the last few decades has led to an abnormal situation where regular employees have enough leverage to capture a substantial fraction of their surplus. Most people are not so lucky. For most people, the system looks more like:
You load sixteen tons, what do you get?
Another day older and deeper in debt
Saint Peter don't you call me, 'cause I can't go
I owe my soul to the company store
and having experienced work environments that were low leverage through no fault of the employees, I understand this, I respect this, and I did not forget it when I left for software, where we have it much easier not because we work harder but because we are in a growth industry.I too found it easy to climb. I too enjoy the "free" money from real estate investments and a stock portfolio. But I know where it comes from. I do not pound my throne and launch spittle as I demand for those beneath me to work harder for my benefit.
You shouldn't either.
If you work hard to make a mud pie, you've created no value, and nobody will want it.
If you work hard to make an apple pie, people will be willing to give you money for it, because you created something of value to them.
I grew up in a restaurant, but my main lesson from it was that I didn't want to be forced to do that kind of work. People have praised me for my work ethic, but I'm not sure it came from doing anything at the restaurant, it came from NOT wanting to do anything at the restaurant.
Most people who get a desk job will not see this, in fact they will barely ever meet an end consumer (person who eventually pays VAT for example), and the money will have passed through a huge number of hands before getting into their account each month. Doing a slightly better or worse job makes no difference.
I was raised in middle-class suburbia, in the North East U.S. My family wasn't wealthy, but wasn't hurting either. I did well in school, but didn't have to try very hard to maintain grades in Advanced Placement classes. Outside of school, I worked easy lawn-care gigs with my neighbor and we made decent cash with 20-30 hours of work per week.
It afforded me a life of coasting, leisure, and throwing away my downtime.
I am nearing 30 years old and just realizing that I'd consider my behavior to be bad habits I need to kick. I want to work harder, and I have to teach myself what that means.