For most people, no. You're not going to make a living writing on a site like HubPages or similar.
Let's say you make $5.00 CPM. You only get credit for about half of the views (the other half go to HubPages, like revenue sharing), so effectively you're getting more like $2.50 CPM. Get 10,000 views per week, and you'll make $25 / week (or $100 / month). You'd need to get 100,000 views per week (400,000 views per month) just to make $250 / week ($1,000 / month, or roughly a minimum wage job).
You can increase those earnings by using the Amazon modules, but you still need a massive number of views each month to make anything resembling a "living."
There are people that make real money writing online. They usually publish their own blogs/websites, have thousands of subscribers, and sell their writing (through eBooks, subscription courses, paywalls, etc). A writing site like HubPages (or Yahoo! Voices or Squidoo) can help you make a bit of cash on the side, but it's highly unlikely that you'll make $1,000+ per month. That sounds like a lot, but you can make $1,000 / month by going to work at McDonald's.
Back to your original question, a good evergreen article might bring in an average of 1,000 views a month. That's $2.50 (assuming our $2.50 CPM). You'd need 400 of these successful, 1,000 views / month Hubs to make $1,000 / month. I think you'd be pretty successful (and somewhat lucky) if 10% of your Hubs reached that level of traffic, so you'd need to write 4,000 Hubs. If you pumped out one well written hub every hour, that's 100 weeks (40 Hubs / week * 100 Weeks = 4,000 Hubs), or approximately two years of full time work.
Good luck with that.