Major social changes in the 1960s made it fashionable to be young.
Would you please show me what does the bold part could mean?
Meanwhile, what does it refer to?
Thanks in advance
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The "it" refers to "to be young".
Major social changes in the 1960s made being young fashionable.
As for the word "fashionable", though it usually means "of or relating to fashion", in this context it means "popular" or "desirable".