US Middle Class Decline

The standard of living of the US middle class has declined in recent years, caused by wages failing to keep up with the increasing costs of housing, health care, and college.

Economic liberalism is often blamed for declining wage growth, due to the off-shoring of manufacturing jobs, the decline of unions, and the increase in monopoly employers.

One cause of the high cost of housing, health-care, and college is regulatory capture - where governments create laws that prevent cheap competition that might otherwise lower prices.

The decline of the middle class, combined with increasing income inequality, is likely one of the causes of increasing political polarization and instability.