Don B and Mark P have a good article in the WSJ refuting the popular notion that the middle class is stagnating. 

My favorite (often overlooked (not by Don and Mark, however)) reason: what we are able to buy today with less money than in the past (a sort of de facto deflationary effect of technology) is SO much better than in the past. Computers, cell phones, iPads, satellite television, better health care, air travel, etc, simply didn’t exist or weren’t available to the middle class decades ago. A good life is available at a lower price point now than in the past.

-JD Cross

 

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