On average workers born in 1942 earned as much or more over their careers than any worker born since, according to the National Bureau of Economic Research’s 2017 Niber Working Paper. From 1967, the Middle class’ share of income has dropped from 53.5 percent to about 45 percent today. Ninety percent of metro regions have seen a decline in the middle class while on average incomes in rural America has declined to a much greater degree.
Ever wonder why the middle class is declining in our country, what’s the ramifications, and what can be done about it on a national level and here in the Adirondacks? New York Times bestselling author Peter Kiernan asked the same question, and decided to delve into the issue, and report on what he learned in his new book American Mojo Lost and Found: Restoring our Middle Class. Thanks to the Lake Placid Institute, its board member Ellen McMillin, and her husband John, Kiernan was persuaded to present Saturday morning, July 14, at the Institute’s Adirondack Roundtable. » Continue Reading.