The Hidden Impacts of Rising InequalityRandy Shawbyline‚ Jul. 12‚ 2007By writing Falling Behind in only 125 pages, economist Robert Frank avoids the long-windedness and (usually) the jargon that has left many readers avoiding economic books at all costs. Frank’s new book is as much about social psychology as economics, and his questions --- such as “Why Do We Care About Rank?” — and his adages---“Smart for One, Dumb for All”---address the type of issues that many often wonder about. Frank’s conclusion, that rising inequality hurts the middle-class and all of society even more than we realize, is important. But even more critical is his analysis of the society-wide negative impacts of rising inequality, a subject rarely addressed by the American media. |