The Middle Class is the New Working Class

The Middle Class is shrinking. We should replace it all together with a new class.

Photo by Breno Assis on Unsplash

In our previous article, we show that the middle class has been declining for the past twenty-five years. In today's article, we will explore this phenomenon a little bit more. More specifically, we're going to focus on how it's disappearing, who may be behind this, and what we can do about it.

Why is the middle class disappearing?

There are multiple reasons why the middle class is disappearing, but to simplify this, we're going to look at two reasons: inflation and wages. 

We covered inflation in last week's article, and inflation isn't just a current phenomenon. Prices on goods and services have been increasing for quite some time now - well before the pandemic. And there seems to be no stopping soon.

Ideally, in a situation like this, wages (also referred to as income) would increase to reflect the increase in goods and services. But we don't. Wages have stayed relatively flat in the same timeframe that prices of goods have skyrocketed. Simply put, we're…