Middle Class Differences Between 1970 And 1970
From two different time periods, in 1970 and 2015 a criteria to be on middle class has been changed. I will present the middle class on two different time period by analyzing three components : income, saving, and overconsumption in two different time periods.
In the early 1970's was easier to be classify on the middle class than nowadays. In 1970 the median family lived on one paycheck with one-income $45.000. By analyzing 70's consumption, they spent more on clothing. The differences have to do with how people dress(more suits and leather shoes, fewer t-shirt and shorts), where they shop(less discount stores). Appliances cost more, but the fixed costs (mortgage, child care, health insurance, car, taxes) cost less. In 1970s family had someone
In the early 1970's was easier to be classify on the middle class than nowadays. In 1970 the median family lived on one paycheck with one-income $45.000. By analyzing 70's consumption, they spent more on clothing. The differences have to do with how people dress(more suits and leather shoes, fewer t-shirt and shorts), where they shop(less discount stores). Appliances cost more, but the fixed costs (mortgage, child care, health insurance, car, taxes) cost less. In 1970s family had someone