The Vanishing Middle Class: Prejudice and Power in a Dual Economy
| Author | : | |
| Rating | : | 4.20 (796 Votes) |
| Asin | : | B06W9M2C7N |
| Format Type | : | |
| Number of Pages | : | 411 Pages |
| Publish Date | : | 2014-01-08 |
| Language | : | English |
DESCRIPTION:
Claude Forthomme said Why the Lights are Going Out in the City on the Hill. Brilliant essay - short (166 pages) and highly readable. And it makes an unexpected, innovative use of the Lewis model of a dual economy that is normally used to explain the challenges faced by developing countries - not a developed, advanced country like the United States. But the model's explanatory power . Using an economic model for developing countries works too well for the US. This book really hits the nail on the head. The author is "Peter Temin is an economist and economic historian, currently Gray Professor Emeritus of Economics, MIT and former head of the Economics Department."In economics, models are used to help explain an economy. The models are simplified ways of looking a. Important-but flawed. Kenneth Robert Hughes This is an important book-but somehow unsatisfactory, as the peculiarities of America's ghastly history of discrimination parade in the foreground-while the problem advertised in the title-that is the shrinkage or "hollowing out" of the middle classes - is a problem also found in a number of other advanced W
Money goes to a vast entrenched prison system rather than to education. Temin employs a well-known, simple model of a dual economy to examine the dynamics of the rich/poor divide in America and outlines ways to work toward greater equality so that America will no longer have one economy for the rich and one for the poor. The United States is becoming a nation of rich and poor, with few families in the middle. Conservative white politicians still appeal to the racism of poor white voters to get support for policies that harm low-income people as a whole, casting recipients of social programs as the other - black, Latino, not like "us". And although almost half of black Americans are poor, most poor people are not black. In the dual justice system, the rich pay fines and the poor go to jail.. In this book, MIT economist Peter Temin offers an illuminating way to look at the vanishing middle class. Many poorer Americans live in conditions resembling those of a developing country - substandard education, dilapidated housing, and few stable employment opportunities. Moreover, po