Certainly a lot of merit in what you say there, but that is only one component of the problem.
When I was a kid growing up in the late 60's & early 70's, both my parents worked. Not so we could have expensive goodies, because we had few of those, but just to pay the bills & maybe have a little left over at the end of the month just in case. This was the case with many of my friends too. And there wasn't anywhere near the drama with us that there is with kids these days.
When I was working as a high school sub just a few years ago, there was one day, on one campus, when every administrator on duty as well as campus security, had to patrol the grounds between & during class looking for & trying to prevent fights that were breaking out. Some kind of gang thing.
When I was in high school, we didn't even HAVE a campus security patrol!!!
Wasn't needed.
I guess that I did not make myself very clear, but what you are saying is what I was referring to. I also grew up in the late 50's and 60's, but I was lucky enough to have my Mother home when I got home from school. She ran the house, but my Dad still made most of the decisions. They were a team, of sorts. Later, after I graduated high school and went to college, my Mom went to work to help with the bills, not to buy tech devises because there were none. They just needed more money to live on because everything skyrocketed in those days because of inflation. Again, luck was on my side. I received some scholarship money and a grant. I took out a small student loan, which my Mother and Dad insisted on paying. After college graduation, I went into the Marines. I should have reversed it and had the G.I. bill help pay for my education. Oh, well.
It's just really different today. I'm not saying it is worse, but just very different. My parents said the same when I was growing up too. My Mother used to tell me what it cost her to go to the movies or buy candy, go roller skating and so on. I used to think, wow, that's really cheap. What the heck happened?