How Our Definition Of Middle Class Has–And Hasn’t–Changed In 100 Years
Some of the cultural markers associated with the middle class–like education–have shifted. But its aspirations? Not so much.
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Some of the cultural markers associated with the middle class–like education–have shifted. But its aspirations? Not so much.
Sri Lanka has reclaimed two square kilometers of land from the Indian Ocean to double the size of its capital and retain talent, but will the investment pay off?
Despite Ontario’s recent minimum wage increase, workers are still struggling to make ends meet. Even for those who have full-time jobs, earning minimum wage means they have to make a lot of difficult choices.
Airlines were focused on finding the fastest possible boarding method, so planes can spend less time at gates and more time in the air, making money. They might have stuck with that aim if it weren’t for the other change, which has to do with the fight for overhead bin space.
This Hotel lists hotel, hostel and bed & breakfast recommendations from trusted experts like New York Times, Lonely Planet, Fodor’s, Frommers, CNN and many more.
Farmers across the country are in a state of emergency with dairy and grain producers, new farmers, and farmers of color being hit the hardest. The term farm crisis is synonymous with the 1980s, when the bottom dropped out of the agricultural economy, sending thousands of farms into foreclosure and shuttering businesses.
Increasing interest rates, inflation, and supply chain disruptions notwithstanding, the McMansion is alive and well. Far from being a boomtime fad, it has become a durable emblem of our American way of life.
Why luxury goods don’t impress, but repel. One story that’s true: Acquiring something luxurious can temporarily increase one’s self-esteem. One story that’s not: Acquiring something luxurious can impress potential friends.
The amount of money adults in the US owe due to educations is over $1.3 trillion and jumps up by more than $2,000 every second. The average borrower owes $28,000. Some cash-strapped former students are choosing to leave America behind in order to avoid paying off their giant debts.
Economists are terrified of how slow growth, low inflation and low interest rates could hit the economy. The Financial Times’ US economics editor Brendan Greeley explains why.
A limit would help to slow the growth of economic inequality and prevent reckless risk-taking by CEOs who otherwise might feel motivated to try to drive up the stock price of their company and therefore their bonus.
Housing affordability is a growing issue in America, and there’s a battle over how to fix it happening on blocks across the country. Zoning—the rules that govern how cities use their land—is on the front line. Cities and states across the country are proposing new upzoning laws to combat the housing crisis. Will they work?
There are no obvious killer generative AI apps yet. And as businesses scramble for ways to use the technology, economists say a rare window has opened for rethinking how to get the most benefits from the new generation of AI.
In Pakistan, China and the U.S. are clashing over China’s One Belt, One Road initiative. To understand what’s at stake, it helps to take a look at why China is in Pakistan in the first place.
Despite the obvious vulnerability of the sector, boards/CEOs of the six largest airlines have spent 96% of their free cash flow on share buybacks, bolstering the share price and compensation of management… who now want a bailout. They should be allowed to fail.
Financial help from parents comes in many forms, and it’s the basis of so many success stories. So why do millennials act like it doesn’t exist? Harper’s Bazaar examines the myth—and tyranny—of the “self-made” success story.
This video takes a look at Sir Seretse Khama, the man that oversaw Botswana’s transformation from to 2nd poorest country in the world to the fastest-growing economy. Botswana today is the world’s largest producer gem diamonds and is one of only a handful of middle-income countries in sub-Saharan Africa.
When the Venetian merchant Marco Polo got to China, he saw many wonders. One of the things that astonished him most, however, was a new invention, implemented by Kublai Khan, a grandson of the great conqueror Genghis. It was paper money, introduced by Kublai in 1260.
A California-based experiment in universal basic income considers the mundane, and potentially transformative, power of a little extra cash. It’s not a new idea, dating as far back as Tudor England. Thinkers ranging from Martin Luther King Jr. to Milton Friedman have backed it.
Many dream of owning their own home, and thanks to huge financial incentives in the rich world many have been able to so. But government policies to encourage home ownership were a huge mistake.
A recession is no picnic. A financial crisis leaves wounds that last for decades. A pandemic, though, can sow a unique kind of chaos. The rich got even richer after the Great Recession, but the Great Depression changed the social order.
In Vienna, a whopping 80 percent of residents qualify for public housing, and once you have a contract, it never expires, even if you get richer. Soaring real estate markets have created a worldwide housing crisis. What can we learn from a city that has largely avoided it?
The 2008 crisis and the government’s response made obvious the extent of economic and political inequality in the United States, and the absolute decline in wealth and well-being for a growing fraction of Americans. Evidence of decline is manifest to those of us living in America in the first decades of the 21st century.
In the wake of the 737 MAX disasters, caused by a software feature, Boeing and regulators initially placed blame on the planes’ pilots. Since Samya Stumo’s death in a 737 MAX crash, her parents and her great-uncle, Ralph Nader, have devoted themselves to proving that the company put profit over safety.
The shopping mall would have been inconceivable without air conditioning, as would the deep-plan and glass-walled office block, as would computer servers. The expansion of tract housing in postwar suburban America relied on affordable domestic air conditioning units.
Gig economies are ersatz structures, designed to skirt labor laws and offload risk and expense onto workers themselves. They serve the whims of capital.
How to buy college football players, in the words of men who deliver the money. These men are fans who believe they’re leveraging football success $500 or $50,000 at a time.
Founding father and first Prime Minister Lee Kuan Yew kicked off the Keep Singapore Clean campaign 50 years ago. The aim wasn’t just to make the city more pleasant. A cleaner city, Lee Kuan Yew reasoned, would create a stronger economy.
Just one per cent of Sweden’s GDP circulates as cash. As debates over the need for cash rage along lines of age, wealth and location, the country is looking to create a digital currency.
The High Line and its imitators are examples of “landscape urbanism,” a growing design movement that places green space in collision with old infrastructure. Rehabilitation projects follow a familiar playbook, aestheticizing the labor of the past even as they support a gentrified future.
The story of the development of airline classes really isn’t the story of how airlines developed more and more luxurious seats, it’s how they cut costs to allow more and more people to fly. It’s also a fascinating demonstration of economics.
In one of the best decades the American economy has ever recorded, families were bled dry by landlords, hospital administrators, university bursars, and child-care centers. For millions, a roaring economy felt precarious or downright terrible.
Some major textbooks feature illustrations of Texas Instruments–series calculators alongside the text, so students can use their Texas Instruments calculator with the lesson plan, emphasizing how deeply interwoven Texas Instruments remains with the educational hegemony.
Mohammed bin Salman is about to find out what happens when the world does not need his oil. In the past, the standard response to that hypothesis was condescending looks. Not any more. The prospect of Saudi becoming a debtor nation is real.
You turn the pages of yellowing student newspapers from 30 years ago, and there they are, recognisably the same faces that dominate today’s British news. Boris Johnson running for Union president, Michael Gove winning debating contests, Jeremy Hunt holding together the faction-ridden Oxford University Conservative Association (OUCA).
Africa is changing so fast, it is becoming hard to ignore. In the short term, the continent faces many problems, but in the long term, it could rival China’s economic might. By the end of this century, Africa is set to play a much bigger role in world affairs. The Asian growth miracle is likely to slow Africa’s rapid rise could be next.
Politicians are floating the idea that the economy supersedes the needs of living, breathing human beings; cruise and airline companies are demanding bailouts and full control over the terms; senators are doing crimes in broad daylight; and billionaire corporatists who did the same are asking regular people for money.
I can’t explain airline pricing but I do know some plane tickets can be cheaper depending on where you buy them or, even better, where you appear to buy them from. This is all about leveraging foreign currencies and points-of-sale to your advantage.
Medical debt is a uniquely American phenomenon, a burden that would be unfathomable in many other developed countries. According to a survey in the American Journal of Public Health, nearly 60 percent of people who have filed for bankruptcy said a medical expense contributed to their bankruptcy.