Sunday, April 19, 2015

Four American economic classes

Which economic class are you in? Devin Helton wrote a couple years ago about our four economic classes:
To understand American economic conditions, it is helpful to generalize Americans into four economic classes:

The Underclass Those scraping by at the fringes of economy, often subsisting on crime or welfare.
The Plebs The interchangeable parts in the machinery of the economy. Because plebs are so easy to replace, they earn low wages and have little job security.
The Rat-racers Those who have found a career track that offers leverage and rewards inside knowledge. The inside knowledge makes it harder to replace the rat-racer, thus earning them higher salaries. But they must grind out long work hours to maintain their competitive edge.
The Rentiers Those who have achieved complete economic security. They no longer need to work to live, instead they work for personal fulfillment.
Read more here.

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