I can't find it now but I read an article once with a title like "The $10,000 Shirt" or something like that, which argued that in medieval times, the amount of labour that it took to produce a single shirt would cost about $10,000 at modern minimum wage.

If you were a peasant back then you might have owned two shirts: your regular one that you wore every day, and a 'fancy' one for church, weddings etc.. When your shirt got too ragged you cut it up and tailored it into clothes for your children, or used the material to patch up holes in other clothing. When even those got too decrepit you'd use them as kitchen rags etc. until they literally disintegrated. Cloth was too valuable to waste!

We truly do live in a world of abundant excess in the modern era, and we should appreciate it.