Middle class

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    • Circuit City and the American Dream

      Posted by Jeff from Chineseinvancouver.blogspot

      Circuit City said yesterday that it had fired 3,400 of its highest-paid sales staff — 8% of its employees — and will replace them with lower-paid workers. Sign On San Diego called this 'a risky strategy to cut costs that goes beyond the layoffs, buyouts and hiring freezes commonly used by struggling companies.' The fired workers have a chance to apply for lower-paying positions after a 10-week wait, the company said.

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      Why Bolivia's middle class feels left out by Morales

      Posted by Jeff from Christian Science Monitor

      While Morales remains a popular president, lawyers, teachers, police officers, and taxi drivers interviewed across the country claim he is governing for the indigenous only and say they disagree with his policies. Many are going to Spain. Others wonder where they fit within the "new Bolivia."

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      A Superpower in Decline: America's Middle Class Has Become Globalization's Loser

      Posted by Jeff from Spiegel

      The feedback effects involved in globalization are especially intense for the US economy -- so much so that large parts of the US workforce are now standing with their backs against the wall. Via RawStory: "The rise of Asia has only led to a relative decline of the US national economy. At least so far. But for many blue- and white-collar workers, this decline is already absolute because they have less of everything than they used to. They possess less money, they are shown less respect in society and their chances for climbing up the social ladder have deteriorated dramatically. "

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