This is an old talk from 2007, but it's one of the most fascinating videos I've watched in a long time. The talk, given at UC Berkley explains what has been happening to American families since...
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This is an old talk from 2007, but it's one of the most fascinating videos I've watched in a long time. The talk, given at UC Berkley explains what has been happening to American families since 1970. Warren explains how compared to the 1970s, middle-class families are spending less (inflation-adjusted) on clothing, food, appliances, and car purchase price, but more on mortgages, education, healthcare, car insurance, and childcare.
She discusses the move from single income family households to dual-income households starting from the 1970s, and offers an argument that shows that a dual-income family of today is at a lot more risk than a single income one of 1970 (The "Two Income Trap"). This is due to the lack of an extra parent that can enter the workforce should the first one be unable to work, the need to keep two jobs to keep the family above water as well as maintain health insurance, to keep two cars on the road, and various other points which she explains in the talk. Warren also describes other aspects of life that have become much more expensive over the years and uses all these points to argue why the traditional "middle class" will shrink, yielding to an upper class and a large lower class.
This is an old talk from 2007, but it's one of the most fascinating videos I've watched in a long time. The talk, given at UC Berkley explains what has been happening to American families since 1970. Warren explains how compared to the 1970s, middle-class families are spending less (inflation-adjusted) on clothing, food, appliances, and car purchase price, but more on mortgages, education, healthcare, car insurance, and childcare.
She discusses the move from single income family households to dual-income households starting from the 1970s, and offers an argument that shows that a dual-income family of today is at a lot more risk than a single income one of 1970 (The "Two Income Trap"). This is due to the lack of an extra parent that can enter the workforce should the first one be unable to work, the need to keep two jobs to keep the family above water as well as maintain health insurance, to keep two cars on the road, and various other points which she explains in the talk. Warren also describes other aspects of life that have become much more expensive over the years and uses all these points to argue why the traditional "middle class" will shrink, yielding to an upper class and a large lower class.