The idea that the economy was "knackered" might be true at a macroeconomic level - I don't know. But the thread is about the best time for the individual. In the 70s I got a grant to go to Uni and so did my wife. The SSRC fully funded a further three years postgrad research for me. Both my wife and I got secure jobs almost straightaway with final salary pensions. The NHS paid for her to develop her career. The Civil Service sponsored me to do another degree in Estate Management. We bought a house.
Every person I knew at Uni who wanted it went into graduate level employment with decent pay, conditions and a pension.
When I consider what my kids have had to go through in the last decade give me the 70s any day.