Amerrica's Vanishing Middle Class

Paul O'Brien, Business Program coordinator, at the school where I teach, sent me a video of Harvard Law Professor, Elizabeth Warren, addressing a group at UC Berkeley about the troubling demise of the American middle class.

She traces much of the problem to the vanishing "safety net" that was in place prior to the 1970s. She mentions the labor in reserve of the "stay at home" wife/mother, the generous health insurance provided by employers, the free/public gateway-to-the-middle-class (K-12 education). Her data explaining where the cost of living is impacting families is particulary interesting also.

What do we do?

What can be done?

I believe this a combination of social and economic issues that combine for a dangerous mix. To think that many/most American middle class families are a divorce/illness/job loss away from bankruptcy is very scary. Is there a hidden mass tradgedy resulting from this recent recession with all the job losses?

Blogging Once Again

I am motivated by a current student who responded to a post to begin adding to my blog once again.

This morning I was reading some op-ed articles in the Washington Post and came across one that speaks to incentives and influence in the political arena.

Like the writer, I find this Supreme Court decision very dangerous to our democracy. Balance of power is at stake here. Do we want a government run for the citizens or for special interests? In an economy where wealth is already becoming concentrated and the middle class is disappearing, do we want to give political power as well over to the market? Remember, in the market, the buyer who can pay the higest price receives the resources.

This doesn't seem like the country I was taught about in history class. Perhaps it does resemble the countries many of our ancesters fled where "royals" took all and the rest were serfs.

What do you think?