The Thinning of the Middle Class

istock_000006025149xsmall_wide-beb6fac6237ff06a64594d3a1fe6b9d54593eb61-s3-c85Tyler Cowen is on NPR talking about his new book, Average Is Over: Powering America Beyond the Age of the Great Stagnation

Cowen believes the wealthy will become more numerous, and even more powerful. The elderly will hold on to their benefits … the young, not so much. Millions of people who might have expected a middle class existence may have to aspire to something else.

“Imagine a very large bohemian class of the sort that say, lives in parts of Brooklyn,” Cowen explains. “… It will be culturally upper or upper-middle class, but there will be the income of lower-middle class. They may have lives that are quite happy and rewarding, but they may not have a lot of savings. There will be a certain fragility to this existence.”

Average is over. Two anecdotes.

The School District shared the results of the latest survey of middle school parents in town. 28 percent of parents responded yes to the statement, “I supplement my child’s education with professional tutoring in core subjects such as math or reading.” The true number is probably higher, since not every parent would admit to paying for tutoring.

Kids are being honed for high school sports long before they enter high school.