The New Economy and the American Middle Class(PAPERS READ AT THE AUTUMN CONFERENCE SYMPOSIUM, 2002 Globalized World and the Association of Global Citizens)

DOI Web Site

Bibliographic Information

Other Title
  • ニューエコノミーとアメリカ中産階級(大会報告・共通論題:グローバル化の世界と市民の連帯)
  • ニューエコノミーとアメリカ中産階級
  • ニューエコノミー ト アメリカ チュウサン カイキュウ

Search this article

Description

The debate over the status of the middle class in the modern economy has reached boiling point these days in Japan as well as in America. This paper deals with middle-class economic wellbeing in the U.S. during the 1990s. The 1990s were marked by the progress of information technology (IT) and globalization, which led to an increase in employment of over 15 million jobs in ten years. Contrary to the superficial stereotypical arguments, IT producing industries contributed heavily to wage increases and to productivity growth. Income growth in the middle range was especially noticeable during 1995-2000. The recession of 2001, however, seemed putting the break to the equalization trend. Among the demerits of the new economy-type growth, mounting job insecurity stands out most evidently. A decrease in secure full-time jobs added to family insecurity. As a result, husbands are taking second jobs and more housewives are taking employment. Personal bankruptcy has been increasing rapidly. The 'rules' of the new economy, i.e., easy founding and restructuring of small and medium-sized enterprises-entails corresponding costs on the side of middle-class workers.

Journal

Details 詳細情報について

Report a problem

Back to top