Social class in decline : Social Development

Social class in decline

SDT-2013-04-wealth-recovery-0-1By Richard Fry and Paul Taylor

During the first two years of the nation’s economic recovery, the mean net worth of households in the upper 7% of the wealth distribution rose by an estimated 28%, while the mean net worth of households in the lower 93% dropped by 4%, according to a Pew Research Center analysis of newly released Census Bureau data.

From 2009 to 2011, the mean wealth of the 8 million households in the more affluent group rose to an estimated $3, 173, 895 from an estimated $2, 476, 244, while the mean wealth of the 111 million households in the less affluent group fell to an estimated $133, 817 from an estimated $139, 896.

These wide variances were driven by the fact that the stock and bond market rallied during the 2009 to 2011 period while the housing market remained flat.

Affluent households typically have their assets concentrated in stocks and other financial holdings, while less affluent households typically have their wealth more heavily concentrated in the value of their home.

From the end of the recession in 2009 through 2011 (the last year for which Census Bureau wealth data are available), the 8 million households in the U.S. with a net worth above $836, 033 saw their aggregate wealth rise by an estimated $5.6 trillion, while the 111 million households with a net worth at or below that level saw their aggregate wealth decline by an estimated $0.6 trillion.

Because of these differences, wealth inequality increased during the first two years of the recovery. The upper 7% of households saw their aggregate share of the nation’s overall household wealth pie rise to 63% in 2011, up from 56% in 2009. On an individual household basis, the mean wealth of households in this more affluent group was almost 24 times that of those in the less affluent group in 2011. At the start of the recovery in 2009, that ratio had been less than 18-to-1.

You might also like

Has to do with the decline of AA's in SF

by Localyokel

What's happened in recent years is that the more middle-class AA's have fled the city to places like Pittsburg and Antioch. Those who have remained are the poorest with the most social problems. We're rapidly approaching the point where the only AA's in SF will be living in the projects or on the streets.

That might the the logical thinking about RWers

by Post_IT_Notes

In regards to an elite class of high income individuals who control the Corporations and therefore most all the money, but you need to realize that money is not everything in politics. There is also the social side of politics, where right wingers and conservatives alike are also religious, and stand by a religious moral code, where granting everybody the freedom to practice any and everything considered immoral by religious beliefs just doesn't fly too well for society as a whole. They know that such things can only lead to a social decline and breakdown in society, spawning more crime ,distaste, and corruption

Palgrave Macmillan Transforming Race and Class in Suburbia: Decline in Metropolitan Baltimore
Book (Palgrave Macmillan)

Manifesto of the New Fatherhood  — Esquire
The crisis of income inequality and the decline of social capital are the subjects of wide-ranging, furious debates. The quality of schools is the main subject of almost all local politics. Family structure matters more.

Developing a 'We' Culture  — ChristianityToday.com
The author of "Bowling Alone," the famous 1995 essay on the decline of social capital—our connection to each other through activities and institutions—Putnam converted to Judaism in part because of its strong sense of community.

The University of North Carolina Press No Direction Home: The American Family and the Fear of National Decline, 1968-1980
Book (The University of North Carolina Press)
  • Used Book in Good Condition
Harvard University Press Public Intellectuals: A Study of Decline
Book (Harvard University Press)
University of Virginia Press Sacred Order/Social Order: The Crisis of the Officer Class: The Decline of the Tragic Sensibility
Book (University of Virginia Press)
Transaction Publishers The Decline of the Intellectual
Book (Transaction Publishers)
  • Used Book in Good Condition