Charts! We love them. We've talked a lot about how low wage jobs have overwhelmingly replaced the mid-wage jobs lost during the financial crisis. Data from the National Employment Law Project shows this, and new data from Goldman Sachs and the Department of Labor also supports this. More importantly the Goldman Sachs reports shows that the "hollowing out in the middle is real, it is not unique to the post-crisis period," which means that we can't just blame this on the financial crisis—there has been rapid growth in the low-wage sector since the booming '90s.
Francis Fukuyama's Saturday essay in WSJ examined the rise of the new global middle class and what they're doing to challenge the status quo. "It would be a grave mistake to think, 'It can't happen here,'" Fukuyama, a fellow at Stanford University's Freeman Spogli Institute for International Studies, warns.
Yair Lapid, Israel's finance minister, created an imaginary person who he thinks embodies the country's middle class.
I went to a private Montessori school in Atlanta from preschool through the third grade that my middle-class parents were able to pay for with a scholarship that I got for doing extremely well on little-kid-level standardized tests. The majority of the families that sent their children there were very well-off.
Atlantic Cities looks at the metro areas in the U.S. where homes are least affordable for middle class families (or families earning the median income in the area)—San Francisco being the worst, according to an analysis by real estate site Trulia. New York, of course, also makes it near the top of the list, but New York is a city of renters (and I imagine San Francisco is one too). Where is the housing stock most affordable for median earners? Cities in Ohio, Indiana, and Michigan make the list, which you can see in full below.
The BBC recently asked two Ivory Coast residents—one middle class, living on $20 a day, and one surviving just above the poverty line at $2 a day—how they get by.
What is Middle Class in Manhattan?" asked this New York Times real estate section story this weekend that was widely passed around.
Robert Reich, the secretary of labor from 1993 to 1997 and a professor of public policy at UC-Berkeley, recently met with one of his mentors, a veteran activist in his 80s who witnessed the struggle for civil rights in the 1960s, and is continuing to fight for social justice and economic inequality. Reich's mentor, who isn't named, believes that inequality will diminish as demographics shift and women gain more economic power. Hopefully, it won't take 50 more years for that to happen.
India Ink, the Times's blog about India, examined class and politics in regards to India's elite, who have incentives to "masquerade" as the middle class.
I grew up in some of the most exclusive neighborhoods in the nation thanks to my dad's position as a prep school teacher and coach. My brother, sister and I rode our bikes up and down hallways carpeted with Saarinen rugs, and spent our summers on a prep school campus that educated the bluest of blue bloods, including several U.S. presidents, prominent businessmen and authors. We settled for a few years on Long Island, where my dad was a teacher and my mom was a school librarian at the exclusive day school we attended, and my siblings and I were granted a ticket into an elite world that was far from our birthright.