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News for Norther Colorado and the world

Sunday, October 26, 2014

Posts Tagged ‘Hourglass Economy’

American middle class: dead?

American middle class: dead?

Professor Starr writes about the "Hourglass Economy," one in which the economy consists mainly of the rich and the poor with only a small middle class. Examples of this type of economy abound. Many South American and African countries come to mind. Without a strong and prosperous middle class, the United States is destined to become a third-rate nation. America will not longer be a world power or a major player in world economics. This will mark the end of the "American Dream" and the ... Full Story

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