a thoughtful web.
Good ideas and conversation. No ads, no tracking.   Login or Take a Tour!
comment

    Mr. Rose adjusts these thresholds for inflation back to 1979 and finds the population earning this much money has never been so large. One could quibble with his exact thresholds or with the adjustment that he uses for inflation. But using different measures of inflation, or using higher income thresholds for the upper-middle class, produces the same result: substantial growth among this group since the 1970s.

I think it's a bifurcation of the economy as the price of professional services has risen (education, healthcare), and the price of labor and manufacturing has fallen.

This article about the cost of raising a kid these days seems to support that view.