Falling Behind How Rising Inequality Harms the Middle Class

ISBN-10: 0520252527
ISBN-13: 9780520252523
Edition: 2nd 2007
Authors: Robert H. Frank
List price: $26.95 Buy it from $0.01
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Description: Although middle-income families don't earn much more than they did several decades ago, they are buying bigger cars, houses, and appliances. To pay for them, they spend more than they earn and carry record levels of debt. In a book that explores the  More...

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Book details

List price: $26.95
Edition: 2nd
Copyright year: 2007
Publisher: University of California Press
Publication date: 7/9/2007
Binding: Paperback
Pages: 160
Size: 6.75" wide x 8.25" long x 0.50" tall
Weight: 0.660
Language: English

Although middle-income families don't earn much more than they did several decades ago, they are buying bigger cars, houses, and appliances. To pay for them, they spend more than they earn and carry record levels of debt. In a book that explores the very meaning of happiness and prosperity in America today, Robert Frank explains how increased concentrations of income and wealth at the top of the economic pyramid have set off "expenditure cascades" that raise the cost of achieving many basic goals for the middle class. Writing in lively prose for a general audience, Frank employs up-to-date economic data and examples drawn from everyday life to shed light on reigning models of consumer behavior. He also suggests reforms that could mitigate the costs of inequality. Falling Behind compels us to rethink how and why we live our economic lives the way we do. Copub: Russell Sage Foundation

Robert H. Frank is an economics professor at Cornell's Johnson Graduate School of Management and a regular "Economic View" columnist for the "New York Times", and a Distinguished Senior Fellow at Demos. His books, which have been translated into 22 languages, include "The Winner-Take-All Society" (with Philip Cook), "The Economic Naturalist", "Luxury Fever", "What Price the Moral High Ground?", and "Principles of Economics" (with Ben Bernanke).

Preface
Introduction
Recent Changes in Income and Wealth Inequality
Inequality, Happiness, and Health
Envy or Context?
The Rising Cost of Adequate
Why Do We Care about Rank?
What Types of Consumption Are Most Sensitive to Context?
How Can Middle-Class Families Afford to Keep Up?
Smart for One, Dumb for All
Looking Ahead
Lessons for Public Policy
Reflections
Notes
References
Index

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