Years ago I remember reading that the most dangerous clothing to wear on an airplane, in the event of an emergency, is dress clothes. Men should never wear ties (they can get caught and strangle you), women should never wear hose (they can melt to your skin), and the recommendation of this article was loose fitting cotton clothing that will either burn and not melt, or can easily be discarded if needed.
Personally I don't see what purpose dress clothes serve, It's been years since I have worn either a suit or a tie, and I can't think of any event that I will ever wear either of them again. Doesn't mean I think we should dress sloppy, there are certainly places where certain kinds of dress are more appropriate / less appropriate, but I don't bemoan the decline of society because people don't dress up anymore.
And every time I see a photo of those poor slobs wearing suits at ballgames I thank my lucky starts I was born when I was. My God, what kind of hell that must have been to be dressed like that in a stadium on a hot day, or a rainy day, or a party cloudy 72 degree day for that matter :)