The Fragile Middle Class: Americans in Debt (Google eBook)
Since 1997, the number of American families filing for federal bankruptcy annually has exceeded one million. By most measures, those who file are members of the middle class -- a group that has long provided stability and vitality for the American economic system. This raises the troubling question: why, during the most remarkable period of prosperity in our history, are unprecedented numbers of Americans encountering such serious financial trouble?
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The fragile middle class: Americans in debtUser Review - Book Verdict
Following up the authors' 1989 As We Forgive Our Debtors: Bankruptcy and Consumer Credit in America, winner of the American Bar Association Silver Gavel Award, this book considers the middle class in terms of bankruptcy. The authors seek to discover why so many families are in economic trouble. They note that while Americans during the 1990s lived in a time of prolonged economic prosperity, there was, paradoxically, a 340 percent increase in the rate of personal economic failure between 1981 and 1999. Using a 1991 study of 16 federal bankruptcy districts in five states, the authors find that, like "proverbial canaries in the mine shaft," the bankruptcies highlight five key stresses that America's middle class experiences today: unemployment, credit card and personal debt, sickness and injury, family problems, and the high cost of home ownership. Clear in purpose, this important work is highly recommended for academic and larger public libraries.--Norman B. Hutcherson, Kern Cty. Lib., Bakersfield, CA ...
Review: The Fragile Middle Class: Americans in DebtUser Review - Goodreads
This team of researchers (two sociologists and a law professor) has done very interesting empirical work on consumer bankruptcies in America using thousands of files from several jurisdictions (maintaining research protocols to protect privacy). (Yes, Prof. Warren is now Sen. Warren.)
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