Saturday, February 15, 2014

Two More Articles

Two more articles regarding the middle class.   One more on the conservative side and one more liberal.

Friday, February 14, 2014

Paul Krugman: Redefining The Middle Class

Economist Paul Krugman writes "A lot of Americans - quite arguably a majority - just don't have the prerequisites for middle-class life as we've always understood it."  In his recent article,  Redefining The Middle Class, he argues that the US middle class is much smaller than most believe.   He also argue that is problematic to classify such a large percentage of the population as middle class.   In one Pew Research Survey from 2008, 91% of the respondents classify themselves as upper middle class, middle class or lower middle class.

Thursday, February 13, 2014

New Yorker: Where The Middle Class Shops

The New Yorker Magazine has an article about where the middle class shops these days:

Where The Middle Class Shops

Wikipedia on Middle Class

Wikipedia: American Middle Class.  One thing that the entry stated is that the concept of middle class is "is typically ambiguous in popular opinion and common language use."   Two reasonable people might strongly disagree who is middle class.  

The most important factors in determining who is middle class is household income.  Other important factors include, but are not limited too, wealth, education, age and occupation. 

Many Responses to NYTimes Article About The Middle Class

There were a large number of responses to the New York Times recent article titled:

The Middle Class Is Steadily Eroding. Just Ask the Business World..

For example the article received 1007 comments and the NY Times also published  letters to the editors.   One of the comments was a short comment "In a few years the consumer choice will be Neiman Marcus or WalMart."