The Coming Collapse of the Middle Class?

by Dual Income No Kids on April 22, 2008 · 0 comments

Hello All,

Evidently this is our week to be posting youtube videos on Dinksfinance. This one features a lecture on family finance by Elizabeth Warren, a professor at Harvard Law School.

Her lecture goes something like this: the real costs of housing, health care, taxes and childcare have all increased relative to the 1970s. These higher costs have obliged both mothers and fathers to work to make ends meet. Because both wage earners are on the job market, families are more vulnerable to events like catastrophic illness, job losses or deaths in the family. This heightened vulnerability ultimately results in higher bankruptcy rates, etc. etc.

I find the thesis a bit alarmist. That said, Warren usually has good things to say, so do check out the video. At 47 minutes it’s a bit long, just minimize your browser and let it play in the background – you’ll get the main points.

Best,

James

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