- How the American Upper Middle Class Is Leaving Everyone Else in the Dust, Why That Is a Problem, and What to Do About It
- Narrated by: Richard V. Reeves
- Length: 4 hrs and 40 mins
- Unabridged Audiobook
- Release date: 10-03-17
- Language: English
- Publisher: Blackstone Audio, Inc.
- Whispersync for Voice-ready
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It is now conventional to focus on the wealth of the top 1 percent - especially the top 0.01 percent - and how the ultra-rich are concentrating income and prosperity while incomes for most other Americans are stagnant. But the most important, consequential, and widening gap in American society is between the upper middle class and everyone else.
Reeves defines the upper middle class as those whose incomes are in the top 20 percent of American society. Income is not the only way to measure a society, but in a market economy it is crucial because access to money generally determines who gets the best quality education, housing, health care, and other necessary goods and services.
As Reeves shows, the growing separation between the upper middle class and everyone else can be seen in family structure, neighborhoods, attitudes, and lifestyle. Those at the top of the income ladder are becoming more effective at passing on their status to their children, reducing overall social mobility. The result is not just an economic divide but a fracturing of American society along class lines. Upper-middle-class children become upper-middle-class adults.
These trends matter because the separation and perpetuation of the upper middle class corrode prospects for more progressive approaches to policy. Various forms of "opportunity hoarding" among the upper-middle class make it harder for others to rise to the top rung. Examples include zoning laws and schooling, occupational licensing, college application procedures, and the allocation of internships. Upper-middle-class opportunity hoarding, Reeves argues, results in a less competitive economy as well as a less open society.
Inequality is inevitable and can even be good, within limits. But Reeves argues that society can take effective action to reduce opportunity hoarding and thus promote broader opportunity. This fascinating book shows how American society has become the very class-defined society that earlier Americans rebelled against - and what can be done to restore a more equitable society.
Customer ReviewsMost Helpful
By David Larson on 10-06-17
If You Have a Grad Degree You Need To Read This!
This book is amazing. I never even considered the 1001 different ways that the upper middle class is able to game the American system to ensure that as much opportunity and wealth as possible is passed along to their kids. What a wakeup call for me...
Read this book if you want to know how Nixon was a liberal, Bernie Sanders was (in some big ways) a conservative, and everything you think you know about inequality is wrong.
I love how much fascinating information the author is able to fit into such a short book. If you happen to be in the upper middle class like me, you might want to pour yourself a glass of scotch before you read this one. This book holds up a mirror to what you thought was your own perfectly ethical behavior...and oh brother are you not going to like what you see.
1 of 1 people found this review helpful
By redbear on 07-02-18
Informative selection of American classism
Dream hoarders explains how the upper middle class is hoarding wealth from everybody else below. It provides solutions to help curtail the accumulation of wealth by listing a set of policies and ideas to prevent the wealth stripping experienced by America's lower classes.
I would recommend this book because the author does a masterful job of depicting how the upper middle class hoards wealth. he is very honest and his assessment and fully understands that his own position means that others will fall.