How Reaganomics Killed America’s Middle Class (November 11, 2015)

Thom discusses what Ronald Reagan’s economic policies have done to America’s middle class with economist Richard Wolff, author of the book “Democracy at Work: A Cure for Capitalism.”

Why So Many Americans in the Middle Class Have No Savings

Could you come up with $2,000 in 30 days if you had to? As many as 40 percent of American families can’t, despite the improving economy. Among them is Neal Gabler, who is frequently broke despite his successful career as a writer. As part of a collaboration between The Atlantic and the PBS NewsHour, Judy Woodruff looks at why Gabler and so many other Americans are struggling with savings.

Middle Classes Will Disappear in Next 30 Years Warns Government Adviser

THE DAILY TELEGRAPH: Property price rises will cause the middle classes to disappear within 30 years, leaving only a “wealthy elite and sprawling proletariat”, government adviser says

The middle classes will die out within 30 years because of rising property prices, which will rob today's children of their dreams, an economist has warned.

David Boyle, a government adviser and fellow of the New Economics Foundation think tank, said that youngsters can no longer expect the same level of affluence as their parents.

Speaking at the Hay Festival he warned that Britain will be left with a "tiny elite and a huge sprawling proletariat" who have no chance of "clawing their way out of a hand-to-mouth existence".

He predicted that the average house price will reach £1.2 million by 2045, putting a home beyond the range of most people as wages fail to keep up with huge increases.

Mr Boyle said that the traditional middle classes will need three or four jobs just to be able to pay soaring rents. People will no longer have the space or time to pursue cultural interested [sic]. » | Sarah Knapton, Science Correspondent | Wednesday, May 26, 2014