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Alarm over the ‘shrinking’ middle class hides a more important truth about the state of income inequality
The middle class might be developing a bit of a complex about its size. After all, rarely a month goes by without a headlines about how it is “shrinking”. Sometimes the preferred verb is “hollowing out”, but that doesn’t sound too great either.
The latest shrinkage alert comes from the OECD, in a new report showing that the middle class now accounts for just 61% of the populations of member countries, down from 64% in the mid-80s.
Continue reading...from US news | The Guardian http://bit.ly/2UbP6r6
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