Where We Live Now

Where We Live Now:

Brad DeLong summarizes the ongoing restructuring of American society:

  1. The rise of a very powerful, successful, exploitative upper class.
  2. Further increases in inequality as the tax and transfer system becomes less progressive.
  3. Increases in risk that threaten to move middle-class families sharply downward in the wealth distribution.
  4. Skill-biased technical change that sharply raises the benefits to education.
  5. Holes in the safety net–the fall in the value of the minimum wage, time-limited welfare, and so forth.


yes, perhaps it is time again to read the declaration of independence…