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Surging economic inequality following the economic crisis and the anger associated with it have resulted in a resurgence of socialist and nationalist ideas throughout the Western world, which has some economic elites from places including Silicon Valley, Davos and Harvard Business School concerned about the future of capitalism. [61]
Another cited factor is the "death of the American middle class" represented by declining real wages and rising costs creating a middle-class squeeze, resulting in large-scale closures of retailers such as Macy's, JCPenney, and Sears which traditionally relied on spending from this market segment. [27]
Inspired by the Black Death, The Dance of Death, or Danse Macabre, an allegory on the universality of death, was a common painting motif in the late medieval period. There are no exact figures for the death toll; the rate varied widely by locality. Urban centers with higher populations suffered longer periods of abnormal mortality. [126]
The term "late capitalism" (Spätkapitalismus) was first used by the German social scientist Werner Sombart in a 1928 publication [12] after he had completed his three-volume magnum opus Der Moderne Kapitalismus ["Modern Capitalism"], which was published from 1902 through 1927 (only the first volume of Sombart's Modern capitalism has been translated into English so far. [13]
“Having over a million bucks may sound like a one-way ticket out of the middle class, but in reality, the connection between net worth and day-to-day life can be as complex as the economy itself.”
For years it was common for Europeans to assume that the Black Death originated in China. Charles Creighton, in his History of Epidemics in Britain (1891), summarizes the tendency to retrospectively describe the origins of the Black Death in China despite lack of evidence for it: "In that nebulous and unsatisfactory state the old tradition of the Black Death originating in China has remained ...
If your household makes between about $48,500 and $145,500, depending on where you live you may be firmly rooted in the middle class. Today, living in the middle class usually means working a 9-to ...
Vice President Kamala Harris rolled out her "Opportunity Economy" agenda on Aug. 16, one which she said will help the American middle class. Yet, some experts argue that some of the proposals ...