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1/What the heck is the "middle class", and why is it important?
Today's @bopinion post offers a possible answer.
bloomberg.com/opinion/articl…
Today's @bopinion post offers a possible answer.
bloomberg.com/opinion/articl…
3/In fact, even most Americans making over $100,000 consider themselves "middle class" (or "upper middle class")! 
4/Part of this obsession with middle-class-ness could come from the aspirations of lower-income people and the shame of higher-income people.
BUT
It could also be a statement about the kind of society people want to live in.
BUT
It could also be a statement about the kind of society people want to live in.
7/Even when experimental subjects can run away with all the money, they usually don't.
tutor2u.net/economics/refe…
And in fact, they try to spread the wealth equitably among *other* participants as well.
pdfs.semanticscholar.org/4d43/df2a8b0ad…
tutor2u.net/economics/refe…
And in fact, they try to spread the wealth equitably among *other* participants as well.
pdfs.semanticscholar.org/4d43/df2a8b0ad…
8/Moreover, Americans tend to underestimate the amount of inequality that exists in their country, which probably reflects wishful thinking.
hbs.edu/faculty/Public…
hbs.edu/faculty/Public…
9/In other words, people don't just want more stuff. They don't just want to be higher up relative to other people.
They want to live in a more equal society.
THAT'S what "middle class" means. Not "I'm in the middle", but "Most people have relatively equal status".
They want to live in a more equal society.
THAT'S what "middle class" means. Not "I'm in the middle", but "Most people have relatively equal status".
10/How do we create a middle class society?
The typical methods are:
A) redistribution
B) predistribution
All of these methods attack inequality of income and wealth directly, attempting to compress the distribution.
The typical methods are:
A) redistribution
B) predistribution
All of these methods attack inequality of income and wealth directly, attempting to compress the distribution.
11/But in addition to compressing the distribution, there are things we can do to make the distribution matter less.
In other words, there are ways we can equalize status in society.
Public space and public transportation are two of these ways.
In other words, there are ways we can equalize status in society.
Public space and public transportation are two of these ways.
12/Housing is another.
13/Public education is another.
14/A middle-class society isn't just about compressing the distributions of income and wealth.
It's about the shared social bonds and feeling of commonality that come from constant reminders that we're all equal members of society.
It's about the shared social bonds and feeling of commonality that come from constant reminders that we're all equal members of society.
15/A middle-class society is the kind of society I want to live in. And I think most Americans share that desire.
(end)
bloomberg.com/opinion/articl…
(end)
bloomberg.com/opinion/articl…
