This Blog Posting Is For the Middle Class

Just like Obama’s last budget.

In an interview on Charlie Rose on February 3, Shaun Donovan, the U.S. Director of the Office of Management and Budget, eloquently described the core of middle-class economics.

American legislators in state governments universally echo similar sentiments.

In the U.S., the middle class is everybody except the 1% – and the poor, who occupy the lowest level of awareness of elected politicians.

We, in Canada, define the middle class in different terms. Anybody who wants to be in the middle class is considered an honorary member.

Advertisements

One response to “This Blog Posting Is For the Middle Class

  1. In the absence of adopting a set of agreed-upon benchmarks, such as the imprecise criterion of LICO (low-income cut-off), it is difficult, if not impossible to class-categorize, aside from letting everyone to self-identify.
    In Canada, it is often assumed that we are all ‘better off’ to rely on self-identifying our ‘social status’ as that belonging to ‘the middling classes’, since the alternatives, as Fred Hirsch (1931-1978) has already noted in
    discussing the import of ‘positional goods’, are by and large considered somewhat ‘less appealing’.

    Hirsch’s contribution is becoming more notable as the Great Recession multiplies the number of college educated but poorly employed graduates, and probably explains why he would be referenced in a television situation-comedy: “There’s an economic concept known as a positional good in which an object is only valued by the possessor because it’s not possessed by others. The term was coined in 1976 by economist Fred Hirsch to replace the more colloquial, but less precise neener-neener.” (Wikipedia)