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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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PRINTED FROM MIT PRESS SCHOLARSHIP ONLINE (www.mitpress.universitypressscholarship.com). (c) Copyright The MIT Press, 2020. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in MITSO for personal use.date: 30 October 2020

Conclusions

Conclusions

Chapter:
(p.153) 14 Conclusions
Source:
The Vanishing Middle Class
Author(s):

Peter Temin

Publisher:
The MIT Press
DOI:10.7551/mitpress/9780262036160.003.0014

This book has described how the vanishing middle class has left behind a dual economy as depicted by the Lewis model. The FTE sector makes political choices largely for itself, neglecting the needs of the low-wage sector in order to keep their taxes low. As Lewis observed, the “capitalists” of the FTE sector want to keep wages low in the low-wage sector to provide abundant cheap labor for their businesses....

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