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The Vanishing Middle ClassPrejudice and Power in a Dual Economy$
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Peter Temin

Print publication date: 2017

Print ISBN-13: 9780262036160

Published to MIT Press Scholarship Online: January 2018

DOI: 10.7551/mitpress/9780262036160.001.0001

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(p.147) 13 Comparisons
The Vanishing Middle Class

Peter Temin

The MIT Press

I argue in this book that the United States economy has developed into a dual economy in the spirit of W. Arthur Lewis. The prosperous part of the economy, known as the FTE sector, is the sector that readers of this book most likely live in and often envision as the whole American economy. The depressed economy, known as the low-wage sector, is the largest part of the American economy nonetheless. The decline of the middle class has left us with these two parts of an economy, governed by policies made by the FTE sector for the benefit of the FTE sector....

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