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USA has embraced globalism and benefitting from it. American middle-class wealth has moved to upper-class rather than to outsiders. "The recent stability in t
by yahnu 6y ago
USA has embraced globalism and benefitting from it.
American middle-class wealth has moved to upper-class rather than to outsiders.
"The recent stability in the share of adults living in middle-income households marks a shift from a decades-long downward trend. From 1971 to 2011, the share of adults in the middle class fell by 10 percentage points. But that shift was not all down the economic ladder. Indeed, the increase in the share of adults who are upper income was greater than the increase in the share who are lower income over that period, a sign of economic progress overall."
https://www.pewresearch.org/fact-tank/2018/09/06/the-american-middle-class-is-stable-in-size-but-losing-ground-financially-to-upper-income-families/ https://www.pewresearch.org/fact-tank/2018/09/06/the-america...
- njarboe 6y ago"American middle-class wealth has moved to upper-class rather than to outsiders." As your quote says, it's not the wealth that has moved per say, but that people have moved upward out of the middle class and brought that wealth with them with more people moving up than moving down.
- yahnu 6y agoRight. I see how my wording can be wrong. I saw some comments (in this thread and some others) that seems to be of the opinion that USA has not benefitted by embracing globalization. That opinion is in contrast to what I have seen in data analysis/reports. So I wanted to say that maybe problem is not that USA hasn't benefitted from globalization but rather that benefit hasn't been distributed appropriately. I'm not from USA and my knowledge comes by reading about news reports and expert data analysis so I might be missing something.