My take that some people would not like the answer but it is what it is - capitalism. Capitalism thrives on low-paid labour, exploitation, profiteering aimed at wealth accumulation of individuals who own the means of production.

30 years ago we didn’t have these many billionaires either. The income inequality has increased. Cost of living has gone up, real estate prices have gone up, basic consumption goods are more expensive, services are more expensive. People who own these companies have become richer, but people who work for them have not.

That’s why we cannot survive on single income the way we could earlier. 30 years ago was the beginning of capitalism. We are in a more advanced stage now… it’s just how things would have naturally evolved. Corrupt politicians etc are all a part of it too - Crony Capitalism is a thing.