Falling Behind

by Frank, Robert H.

• ISBN13: 9780520252523
• ISBN10: 0520252527
• Edition: 1st
• Format: Paperback
• Copyright: 2007-07-02
• Publisher: Univ of California Pr

Summary

Although middle-income families don't earn much more than they did several decades ago, they are buying bigger cars, houses, and appliances. To pay for them, they spend more than they earn and carry record levels of debt. In a book that explores the very meaning of happiness and prosperity in America today, Robert Frank explains how increased concentrations of income and wealth at the top of the economic pyramid have set off "expenditure cascades" that raise the cost of achieving many basic goals for the middle class. Writing in lively prose for a general audience, Frank employs up-to-date economic data and examples drawn from everyday life to shed light on reigning models of consumer behavior. He also suggests reforms that could mitigate the costs of inequality.Falling Behindcompels us to rethink how and why we live our economic lives the way we do. Copub: Russell Sage Foundation

Author Biography

Robert H. Frank is an economics professor in the Johnson Graduate School of Management at Cornell University

Table of Contents

Preface	p. vii
Introduction	p. 1
Recent Changes in Income and Wealth Inequality	p. 6
Inequality, Happiness, and Health	p. 15
Envy or Context?	p. 29
The Rising Cost of Adequate	p. 43
Why Do We Care about Rank?	p. 52
What Types of Consumption Are Most Sensitive to Context?	p. 61
How Can Middle-Class Families Afford to Keep Up?	p. 78
Smart for One, Dumb for All	p. 87
Looking Ahead	p. 95
Lessons for Public Policy	p. 103
Reflections	p. 117
Notes	p. 127
References	p. 133
Index	p. 141
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