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The problem is, losing the middle class cascades to so many other problems. Most importantly, it shrinks the market and reduces business opportunity. It also
by doki_pen 16y ago
The problem is, losing the middle class cascades to so many other problems. Most importantly, it shrinks the market and reduces business opportunity. It also has a devastating effect on tax revenue and public services. What made the US the powerhouse that it is is an enormous middle class. We seem to be losing that now.
- yummyfajitas 16y agoCould you explain your thesis in more detail? You seem to agree with tomjen's claim that everyone, poor or middle class, seems to be consuming more now than historically. And this is certainly well supported by the data - modern day poor people consume more than 1960's middle class people. So isn't the purchasing behavior, rather than the label attached to the consumer, what grows the market and increases business opportunity? I.e., isn't it better for a modern day poor person to consume a house, a car, an AC and an X-Box than for a 1970's middle class person to walk to work, live in a smaller house, and suffer in the summer with no AC and entertain themselves with only a legacy mechanical music players? [edit: better for the purpose of creating "business opportunity"]
- chopsueyar 16y agoBetter for who?