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America divided – this concept increasingly graces political discourse in the U.S., pitting left against right, conservative thought against the liberal agenda. But for decades, Americans have been rearranging along another divide, one just as stark if not far more significant – a chasm once bridged by a flourishing middle class.
Peter Temin, Professor Emeritus of Economics at MIT, believes the ongoing death of “middle America” has sparked the emergence of two countries within one, the hallmark of developing nations. In his new book, The Vanishing Middle Class: Prejudice and Power in a Dual Economy, Temin paints a bleak picture where one country has a bounty of resources and power, and the other toils day after day with minimal access to the long-coveted American dream.
In his view, the United States is shifting toward an economic and political makeup more similar to developing nations than the wealthy, economically stable nation it has long been. Temin applied W. Arthur Lewis’s economic model – designed to understand the workings of developing countries – to the United States in an effort to document how inequality has grown in America.
The 2017 World Economic Forum had the answer: "The people who have not benefited from globalization need to try harder to emulate those who have succeeded," and, "'People have to take more ownership of upgrading themselves on a continuous basis.'"
(Score: 2) by c0lo on Tuesday May 23 2017, @11:47AM (5 children)
What's a "mobility cap"?
Something like... the speed of light?
https://www.youtube.com/watch?v=aoFiw2jMy-0 https://soylentnews.org/~MichaelDavidCrawford
(Score: 2, Disagree) by butthurt on Tuesday May 23 2017, @12:14PM (3 children)
It's the maximum amount of wealth one is allowed to have. Under democratic socialism as practised in Scandinavia, it's sharply limited (see my comment above).
/comments.pl?noupdate=1&sid=19657&page=1&cid=514137 [soylentnews.org]
(Score: 2) by c0lo on Tuesday May 23 2017, @12:21PM
Nice. Thanks.
https://www.youtube.com/watch?v=aoFiw2jMy-0 https://soylentnews.org/~MichaelDavidCrawford
(Score: 0) by Anonymous Coward on Tuesday May 23 2017, @09:59PM (1 child)
hmm, the most limited was 3.2 Billion. I don't think that phrase means what you think it means.
Of course you may have a fantasy land in your head were that actually limits people in a meaningful way... (Mental wounds not healing, Life's a bitter shame, Your goin' off the rails on a crazy train)
(Score: 2, Funny) by butthurt on Tuesday May 23 2017, @11:17PM
If you think it's not a meaningful limitation, try having your wealth capped at $3.6 billion for awhile. See how you like it.
(Score: 4, Informative) by NewNic on Tuesday May 23 2017, @05:21PM
It's something that only exists in the feeble minds of the alt-right and other Republicans, like "death panels".
lib·er·tar·i·an·ism ˌlibərˈterēənizəm/ noun: Magical thinking that useful idiots mistake for serious political theory