Tag Archives: middle class

Misplaced Pride: Most of the “Middle Class” Is Actually Working Class

The conventional definition of working class is based on income and education:the working class household earns between $30,000 and $69,000 annually, and the highest education credential in the household is a two-year community college degree or trade certification. The definition of the middle … Continue reading

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The Accelerating Decay of the Middle Class

If we define middle class by the security of household income and what that income can buy rather than by an income level, what do we conclude? We have little choice but to conclude the middle class is decaying, both in the percentage of the workforce that … Continue reading

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What Killed the Middle Class?

What killed the middle class? The answer may well echo an Agatha Christie mystery: rather than there being one guilty party, it may be that each of the suspects participated in the demise of the middle class. If you doubt the … Continue reading

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The Private Wealth Within Nations, Now and in the Future

Eric Zuesse, originally posted at The Saker The annual Credit Suisse Global Wealth Report is the gold-standard for estimates of private wealth around the world. The latest is Global Wealth Report 2018. It’s at: https://www.credit-suisse.com/media/assets/corporate/docs/publications/research-institute/global-wealth-report-2018-en.pdf Some aspects of this report … Continue reading

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“Yellow Vests” and the Downward Mobility of the Middle Class

The middle class, virtually by definition, is not prepared for downward mobility. A systemic, semi-permanent decline in the standard of living isn’t part of the implicit social contract that’s been internalized by the middle class virtually everywhere: living standards are only supposed … Continue reading

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