The income gap wasn't gargantuan in the 50s, either. You didn't have the top 5% of the population controlling 60% of the wealth. You had a vibrant, massive middle class, that could afford a nice home, in a safe neighborhood, and in a good school district. You didn't have CEOs of publicly traded companies making 450 times what the average employee at that same company made. The spread was more like 40 times.