The Vanishing Middle Class

Prejudice and Power in a Dual Economy

Peter Temin (Professor, Massachusetts Institute of Technology)

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English

MIT Press
09 March 2018

Social discrimination; Social classes; Ethnic studies; Economics & Business; Political economy

Series: The Vanishing Middle Class

"Why the United States has developed an economy divided between rich and poor and how racism helped bring this about.

The United States is becoming a nation of rich and poor, with few families in the middle. In this book, MIT economist Peter Temin offers an illuminating way to look at the vanishing middle class. Temin argues that American history and politics, particularly slavery and its aftermath, play an important part in the widening gap between rich and poor. Temin employs a well-known, simple model of a dual economy to examine the dynamics of the rich/poor divide in America, and outlines ways to work toward greater equality so that America will no longer have one economy for the rich and one for the poor.

Many poorer Americans live in conditions resembling those of a developing country-substandard education, dilapidated housing, and few stable employment opportunities. And although almost half of black Americans are poor, most poor people are not black. Conservative white politicians still appeal to the racism of poor white voters to get support for policies that harm low-income people as a whole, casting recipients of social programs as the Other-black, Latino, not like ""us."" Politicians also use mass incarceration as a tool to keep black and Latino Americans from participating fully in society. Money goes to a vast entrenched prison system rather than to education. In the dual justice system, the rich pay fines and the poor go to jail."

By: Peter Temin (Professor Massachusetts Institute of Technology)
Imprint: MIT Press
Country of Publication: United States
Edition: new epilogue
Dimensions: Height: 229mm, Width: 152mm, Spine: 19mm
ISBN: 9780262535298
ISBN 10: 0262535297
Series: The Vanishing Middle Class
Pages: 288
Publication Date: 09 March 2018
Recommended Age: From 18 years
Audience: College/higher education , Professional and scholarly , Primary , Undergraduate
Format: Paperback
Publisher's Status: Active

Peter Temin is Professor of Economics Emeritus at MIT. He is the coauthor of Keynes: Useful Economics for the World Economy (MIT Press) and of The Leaderless Economy.

Reviews for The Vanishing Middle Class: Prejudice and Power in a Dual Economy

There are a great many books to be read on the problem of growing inequality and the attendant social, political and economic issues that both cause it and result from it. If you had to read only one book on the growing crisis, The Vanishing Middle Class is it. Its powerful combination of race and class analysis doesn't hold back any punches in exposing the deliberate and systematic exploitation of the poor and the racialized by a minority of wealthy and mostly white elites in today's America. -PopMatters