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Falling Behind How Rising Inquality Harms the Middle Class

ISBN-10: 0520280520
ISBN-13: 9780520280526
Edition: 2nd 2013
Authors: Robert Frank
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Description: With a timely new foreword by Robert Frank, this groundbreaking book explores the very meaning of happiness and prosperity in America today. Although middle-income families don't earn much more than they did several decades ago, they are buying  More...

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Book details

Edition: 2nd
Copyright year: 2013
Publisher: University of California Press
Publication date: 9/14/2013
Binding: Paperback
Pages: 176
Size: 5.75" wide x 8.50" long x 0.50" tall
Weight: 0.440
Language: English

With a timely new foreword by Robert Frank, this groundbreaking book explores the very meaning of happiness and prosperity in America today. 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. 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

Preface to the 2013 Edition
Preface to the 2007 Edition
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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