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Fed Economist Cheers Middle Class Squeeze

"This isn’t one rogue economist. This is a highly trained government official in a position of authority who says he just doesn’t care whether cities are places where the middle class can live. His remark is entirely in keeping with a decades-long series of policy decisions that makes life for the middle class last priority. A new Brookings Report shows that the middle is disappearing from New York, San Francisco, and dozens of other cities. And that’s just peachy, says the only government official quoted in the story. If no one really cares, then how much easier will it be to cut loose the middle class entirely? Why worry about predatory lending and home mortgage foreclosures, why regulate tricks and traps in credit cards or payday lenders, why fix public schools or think about how to provide universal health insurance? The rich are doing fine, and, according to the Federal Reserve economist, so long as service labor can be imported from elsewhere, life without the middle class goes on very nicely."

Higher social class predicts increased unethical behavior (PNAS)

Seven studies using experimental and naturalistic methods reveal that upper-class individuals behave more unethically than lower-class individuals. In studies 1 and 2, upper-class individuals were more likely to break the law while driving, relative to lower-class individuals. In follow-up laboratory studies, upper-class individuals were more likely to exhibit unethical decision-making tendencies (study 3), take valued goods from others (study 4), lie in a negotiation (study 5), cheat to increase their chances of winning a prize (study 6), and endorse unethical behavior at work (study 7) than were lower-class individuals. Mediator and moderator data demonstrated that upper-class individuals’ unethical tendencies are accounted for, in part, by their more favorable attitudes toward greed.