The Vanishing Middle Class: Prejudice and Power in a Dual Economy,
“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.”
he parallels are unsettling. As noted by the Institute for New Economic Thinking:
“In the Lewis model of a dual economy, much of the low-wage sector has little influence over public policy. Check. The high-income sector will keep wages down in the other sector to provide cheap labor for its businesses. Check. Social control is used to keep the low-wage sector from challenging the policies favored by the high-income sector. Mass incarceration – check. The primary goal of the richest members of the high-income sector is to lower taxes. Check. Social and economic mobility is low. Check.”
The Vanishing Middle Class: Prejudice and Power in a Dual Economy,
“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.”
https://theintellectualist.co/study-mit-economist-u-s-regressed-third-world-nation-citizens/
he parallels are unsettling. As noted by the Institute for New Economic Thinking:
“In the Lewis model of a dual economy, much of the low-wage sector has little influence over public policy. Check. The high-income sector will keep wages down in the other sector to provide cheap labor for its businesses. Check. Social control is used to keep the low-wage sector from challenging the policies favored by the high-income sector. Mass incarceration – check. The primary goal of the richest members of the high-income sector is to lower taxes. Check. Social and economic mobility is low. Check.”
https://mitpress.mit.edu/vanishing