October 13, 2003
The vanishing middle-class
I've felt for a while that the number of legitimately middle-class families (earning between $40-80k) is declining fairly rapidly. Jobs are being eliminated through either outsourcing or labor-elimination. But in any case, Salon has an interview with Elizabeth Warren of Harvard Law in which Warren suggests that the reason more and more people are filing for bankruptcy is that no one can really afford to live a middle-class lifestyle on middle-class incomes. It's something of a plug for her book, The Two Income Trap: Why Middle-Class Mothers and Fathers Are Going Broke.
