Home > The Economy > Graph of the day: The disappearing middle: EU and US

Graph of the day: The disappearing middle: EU and US

November 25, 2010 Leave a comment Go to comments

Change in share of total hours worked by lowest, middle and highest income occupations between 1993 and 2006

 

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Categories: The Economy
  1. Peter Radford
    November 25, 2010 at 5:13 pm | #1
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    Edward:

    We need a compendium of all these charts. A “picture book” tracing the economic changes of the last few decades. Some of them have been very clear graphic descriptions of economies undergoing radical transformation. Together they tell a powerful story. They trace the effects both of economic policies and the shifts in the environment that either validated or refuted the efficacy of those policies. Too many standard economics texts start with charts sympathetic to the author’s perspective. Perhaps we need to compile these charts and then challenge people to react to the reality they depict.

    In this case the loss of those middle range income jobs surely has profound implications for the way in which economic policy affects society at large. Coupled with some of the other charts you have posted demonstrating rising inequality the overall picture is disturbing. Yet I have seen posts here arguing for indifference on the part of economic theorists as if the social consequences of economics are not interesting. We need to press the confrontation more forcefully, after all economics should contribute the the betterment of social welfare, not its diminution.

  2. David Ruccio
    November 25, 2010 at 5:42 pm | #2
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    Peter,

    that’s a great suggestion. I have done a bit of what you propose—on unequal representations and crisis representations—but nowhere as systematically as I’d like. There’s just not enough time. . .

    Best,

    David

  3. David Ruccio
    November 25, 2010 at 5:43 pm | #3
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