A Brief History of the American Middle Class

The credit for the birth of American middle class in 1914 goes to Henry Ford.Reckless speculation New York Stock Market led Great Depression 1929: longest and most severe depression ever experienced by America, that an amazing level unemployment lasted till 1939.Democrat Franklin D. Roosevelt, who was elected as President 1933, instituted Deal: a series programs--the important which G.I. Bill.The baby boom, increasing consumer income, affordability cars homes--coupled with new interstate highway system—all worked together, then mass migration from inner cities suburbia.The years 1947-1973 are considered golden America’s class: age U.S. will never experience again. foundation this goldilocks economy social covenant shared prosperity between big business labor.The 1980-2008 period marks ‘America decline’ largely because America took sharp turn toward unfettered capitalism greed.This massive growth Financial Services Industry.Income inequality has steadily been 45 1974-2018, 2007 it touched or exceeded lofty heights 1928.A socio-economic lifestyle profile includes three groups: Upper Class, Middle Lower each two classes, making total six.Finally, look into forces stock market crash 2008.