The Real Reason the American Middle Class is Disappearing

A brief exposition of the ideas in Thomas Piketty’s book, “Capital in the 21st Century”

Many people I’ve met have concluded that it is getting harder to “make it” in America. When I was a kid in the 1970’s our neighbor worked as a butcher at a chain grocery store and was able to own a nice house, support his wife and two kids, and live a comfortable life, purely on the basis of wages he received. This was typical in my neighborhood; regular working people without advanced degrees could live well in America. Now, people who work 40…