The myth of the good old days is frequently used to advance various political and social beliefs. While primarily a tool of those who identify as socially conservative, the liberals aren't above using it as well, hearking back to those oh-so-progressive days of the 60's.
There are several flaws to any argument that suggests that we should return to a previous decade's (or century, or millenium) school of thought. First of all, life is different now; it's a great leap of faith to suggest that social patterns that were effective when the Edsel was a good idea will work now that cell phones are everywhere.
But more importantly is the nostalgia problem: deifying any single historical period as "the good old days" requires turning a blind eye to that period's faults. Advocating returning to that period's mores without a clear view of the faults ensures that you'll implement them, too, with disastrous results.
As an example, remember the 50's? Remember moms who stayed home and apple pie and family vacations in the big old family car? In short, remember Leave It To Beaver? Sounds like returning to that reality is just what the US needs now, doesn't it? Now, do you remember the huge amounts of valium and alcohol those 50's parents consumed? Remember wide-spread child sexual abuse that those nuclear families allowed? Remember institutionalized racisim -- remember that Rosa Parks is about to be arrested because she refuses to give up her seat on a bus to a white woman? Remember that, in a year or two, Eisenhower will have to send federal troops to protect the first nine black students at Little Rock, Arkansas' Central High from assault by their (white) classmates?
Doesn't sound like such a good idea after all, does it?