Sunday, October 18, 2015

Downward Mobility

From Daily Reckoning:
A recent Atlantic article fleshed out the zeitgeist with survey data that suggests the Great Middle Class/Nouveau Proletariat is also waking up to a future of downward mobility: The Downsizing of the American Dream: People used to believe they would someday move on up in the world. Now they’re more concerned with just holding on to what they have.

I dug into the financial and social realities of what it takes to be middle class in today’s economy: Are You Really Middle Class?

The reality is that the middle class has been reduced to the sliver just below the top 5%–if we use the standards of the prosperous 1960s as baseline.

The downward mobility isn’t just financial–it’s a decline in political power, control of one’s work and income-producing assets. This article reminds us of what the middle class once represented: What Middle Class? How bourgeois America is getting recast as a proletariat.

The costs of trying to maintain a toehold in the upper-middle class are illuminated in these recent articles on health and healthcare–both part of the downward mobility:

Health Care Slavery and Overwork

How a toxic workplace could, literally, destroy your health

We’re afraid our work is killing us, and we are right

This reappraisal of the American Dream is also triggering a reappraisal of the middle class in the decades of widespread prosperity: The Myth of the Middle Class: Have Most Americans Always Been Poor? (Read more.)
Via A Conservative Blog for Peace. Share

1 comment:

julygirl said...

Yes, the gap between the very rich and the ordinary folk has widened. Our country of the great middle class is waning, which does not bode well for the future of this country. We were the ones propping up the social and economical structure following post WWII years.