Although middle-income families don't earn much more than they did several decades ago, they are buying bigger cars, houses, and appliances. To pay for them, they spend more than they earn and carry record levels of debt. In a book that explores the very meaning of happiness and prosperity in America today, Robert Frank explains how increased concentrations of income and wealth at the top of the economic pyramid have set off qexpenditure cascadesq that raise the cost of achieving many basic goals for the middle class. Writing in lively prose for a general audience, Frank employs up-to-date economic data and examples drawn from everyday life to shed light on reigning models of consumer behavior. He also suggests reforms that could mitigate the costs of inequality. Falling Behind compels us to rethink how and why we live our economic lives the way we do. Copub: Russell Sage FoundationTodaya#39;s entry-level Honda Civic, for example, at 2, 500 pounds is about the same size as 1985a#39;s Honda Accord, whose current model ... The new Civic is faster and more reliable than the old Accord. ... And it even gets better gas mileage.
|Publisher||:||Univ of California Press - 2007-07-09|