The Formerly Middle Class

Economics - 2010

The Formerly Middle Class

http://www.nytimes.com/2008/11/18/opinion/18brooks.html?_r=2&ref=opinion...
Scanned by: GavinChua over 3 years ago

Nice but worrisome Op-Ed by NYT's David Brooks: "This recession will probably have its own social profile. In particular, it’s likely to produce a new social group: the formerly middle class. These are people who achieved middle-class status at the tail end of the long boom, and then lost it. It’s possible that the Obama administration will spend much of its time battling a global protest movement that doesn’t even exist yet. People in the lower middle class have much higher divorce rates and many fewer community ties. For them, cocooning is more likely to be a perilous psychological spiral.

Type: Speculation | Also: Social Issues, Relationships |

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The Formerly Middle Class

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