The Middle Class: Canary in the Gold Mine?

The podcast examines the history and current state of the middle class, primarily in the United States, questioning whether it is thriving or in decline. It traces the emergence of the middle class from late medieval Europe through the American experiment, noting its growth in the 20th century due to factors like the New Deal, unions, and homeownership. The discussion highlights the divergence between productivity and compensation since the 1970s, with wealth increasingly concentrated at the top. The hosts explore different definitions of "middle class," including income-based, self-identification, and values, while also pointing out that goods have gotten cheaper, but housing, rent, childcare, college and healthcare are outpacing earnings. They suggest potential solutions such as expanding social safety nets and universal childcare, drawing inspiration from European models.