Tag: middle class
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The New American Divide – Charles Murray
Wall Street Journal: The New American Divide The ideal of an 'American way of life' is fading as the working class falls further away from institutions like marriage and religion and the upper class becomes more isolated. Charles Murray on what's cleaving America, and why. America is coming apart. For most of our nation's history,…
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Middle class dropouts (This Story Doesn’t Make Sense)
CNNMoney has a story titled Middle class dropouts. It begins: NEW YORK (CNNMoney) — Nearly one third of Americans who were raised in the middle class dropped down the economic ladder as adults — and that's before the Great Recession hit. "Being raised in the middle class is not a guarantee that you'll have that…
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Do Labor Unions Promote the Middle Class?
Library of Economics and Liberty: Do Labor Unions Promote the Middle Class? … What Hacker and Pierson have done here is point to one effect of unions–labor economists call it the "threat effect"–but left out another that is stronger. But to see why, we need to back up and think about what unions have been…
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Declining Middle Class?
Forbes: Has Rising Inequality Destroyed The Middle Class? Thomas F. Cooley (HT: Greg Mankiw) … Now the narrative is less about the declining middle class and more about a gilded age of the super-rich. The middle feels as if it has lost ground because of the extraordinary wealth accumulated by the very, very few. But…
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Ending poverty…through supermarkets?
Private Sector Blog: Ending poverty…through supermarkets? …A new paper from the University of Chicago business school suggests that stores like Walmart have helped dampen the growth of inequality in the U.S. by reducing the prices faced by the poor. Christian Broda, one of the authors, sums it up over at Vox: The expansion of superstores…