WW2 and the inflation that followed seem to be the main culprit

Capitalism and the absence of male workers during war time

Capitalism has little to do with it. However moving away from a currency that was backed by something tangible and to Fiat therefore triggering hyperinflation and destroying the middle class have a LOT to do with it. Also true capitalism doesn’t exist today. We have capitalism through lobbying and legislation which is crony capitalism and therefore a form of fascism.