from what little i know about this, the post ww-II years were great for a lot of people in terms of wages...
then in the 70s, things started changing, wages fell flat, some segments of society began, even then, to see a real reduction in buying power...
that has only gotten worse, over time. worker productivity apparently is way above and beyond any gains in wages, for -most- people. and...
its worth noting that the post-WWII prosperity enjoyed by so many was propped up by Keynesian economic programs that are now regarded as "radical" and indicative of "socialism."
not that it was perfect. something like 60% of America met the criteria for middle class of some sort for a while, but...
those were mostly -white- Americans. I read somewhere...every decade since the 70s, the middle class was smaller, in terms of % of the population, by the end of the decade compared to where it was at the beginning. so, the ill effects of first deregulation, and now crony capitalism, have been building for a while. of course...
but what to do, now? the 'good jobs' in manufacturing are largely gone, for good. a 4 year degree is no longer a golden ticket to middle class respectability. what remains of the middle-middle class is holding on for dear life...debt, housing costs, cost of living, health care....
the now quite powerful upper middle class functions as a sort of 'taste maker' class, even though they cannot afford the same luxuries as the rich...
or the super-rich, of course. inequality is apparently a big issue, internationally. it seems this is just the latest phase in capitalism (not saying that to sound like a commie, btw...I think capitalism beats anything else that's been tried...). OxFam has a pamphlet I've been meaning to find....Can Europe afford its Billionaires? or something like that. That's an interesting take on it....viewing resources as finite, so if someone has billions, some will starve.