Recession Creates a New Social Group
New York Times columnist David Brooks identified another casualty of the U.S. recession: the new social group Brooks calls "the formerly middle class."
These are people who achieved middle-class status at the tail end of the long boom, and then lost it. To them, the gap between where they are and where they used to be will seem wide and daunting.
Now faced with recession, Brooks writes that members of "the formerly middle class" will need to adjust and start embracing the simpler life. That means no morning latte, no Hawaiian vacation and certainly no more Tiffany jewelry or Coach handbags.
For those who have only experienced life during a time of economic boom or stability, living without the material comforts that have shaped their social identity will be a struggle.
Brooks thinks the pain from this recession won't just be material for "the formerly middle class." Rather, "it will be the loss of a social identity, the loss of social networks, the loss of the little status symbols that suggest an elevated place in the social order."
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Life doesn't just stop there.
Life doesn't just stop there. I think there are more ways to regain social status in life you know. Living a principled life with dignity and integrity is something that people can't rob from you.
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