Collapse of the Middle Class

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Collapse of the Middle Class

Collapse of the MiddleClass

Collapse of the MiddleClass

The society has heavilydepended on a vibrant middle class in the economy. Recent changes inthe economy have had a huge impact on this important group in thesociety. The economy depends on the high purchasing power and humanresources provided by the middle class. However, in the recent past,there has been a huge decline in the middle class. The collapse ofthe middle class emphasizes social challenges facing the modernsociety. A collapse in the middle class is an indication that themodern society is becoming poorer. This paper analyses three articlesthat address the declining middle class as a social problem. Thearticles are obtained from online libraries through general searchusing the key words ‘collapse of the middle class”. The articlesare selected depending on depth and accuracy of the content.

Article 1

Hernandez, D. J. (2010).Declining fortunesof children in middle class families: economic inequality and childwellbeing in the 21stcentury. New York,NY. Foundation for Child Development,

The research article byFoundation for Child Development looks at some of the challengesfacing the middle class in the modern society, and its impact on thefortunes of children. The declining middle class and widening incomegap have hit the middle class hard, especially after the financialcrisis. Declining fortunes of the middle class children will have ahuge social and economic impact in the future. The article provides acomprehensive overview of the impact of the collapse of the middleclass will have on the future of the society.

Article 2

Littrell, J., Broooks, F.,Ivery, J. &amp Ohmer, M. (2012). “Why you should care about thethreatened middle class” Journal of Sociology &amp Social Welfare,37(2), 85-112.

The journal article appearedin the Journal of Sociology &amp Social Welfare courtesy of theschool of social work in the Georgia State University. The articlelooks at the income and financial security of middle class workersand the widening gap between the wealthy and the middle class. Thearticle compares the middle class in the modern society with themiddle class in the 1970s. It also looks at why a declining orcollapse of the middle class will have negative social, economic andpolitical impacts. The article also looks at the policies that ledto a vibrant middle class in the post war era and reasons why it isessential to strengthen the collapsing middle class. The peerreviewed journal article is credible and objective. It is reviewssecondary and primary researches in the last half a decade to developan objective conclusion.

Article 3

Warren, E. (2006). “TheMiddle Class on the Precipice, Rising financial risks for Americanfamilies”, HarvardMagazine,January-February 2006.

The magazine article whichappeared on the Harvard Magazine, January February issue of 2006seeks to highlight the challenges faced by the middle class in themodern world relative to half a century ago. In the previousgeneration, the hard work of the middle class workers secured themfinancial stability and economic development. This is despite thefact that on average, one member of the family, the father, had anincome. However, in the modern society, mothers in middle classfamilies have joined the workforce. Despite the two paychecks in themiddle income family, changes in the modern society makes itinsufficient for a middle class family. The family risks haveincreased such that middle class families are budgeting to the limitof the two paychecks. Additionally, these changes have increased thechallenges faced by the middle class families. The magazine articleis relevant to the topic because it looks at one of the majorchallenges facing the middle class in the modern society. Thecollapse of the middle class is attributed to the increased financialand economic instability. The article is credible and objective sinceit links the risks facing the middle class family with socioeconomicstability.

Conclusion

Statistics indicates that themiddle class in the United States is collapsing. This is because of awide range of factors including the impact of the recent financialcrisis, changes in the family structures, increased rates ofunemployment, increased cost of living and widening gap between thepoor and rich. There are numerous implications of a collapsing middleclass, which includes social, political and economic impacts. Thecollapse of a middle class will have huge impacts on millions ofchildren in from middle class family, which will significantly impacton the future of the American society. Due to the short term and longterm impacts of a declining middle class, it is among the mostimportant social issues in the modern society.

References

Warren, E. (2006). “TheMiddle Class on the Precipice, Rising financial risks for Americanfamilies”, HarvardMagazine,January-February 2006.

Littrell, J., Broooks, F.,Ivery, J. &amp Ohmer, M. (2012). “Why you should care about thethreatened middle class” Journalof Sociology &amp Social Welfare,37(2), 85-112.

Hernandez, D. J. (2010).Declining fortunesof children in middle class families: economic inequality and childwellbeing in the 21stcentury. New York,NY. Foundation for Child Development,