Concept information
Preferred term
hourglass economy
Definition
- An economic paradox has been at play and growing in the United States for more than a third of a century—a race to the top of the economy by the rich and the powerful, a slide to the bottom of the economy by low-wage workers and the poor, and a gradual shrinkage of the middle class. The low-wage class is populated primarily by members of racial/ethnic minorities as well as by many of the new immigrants. [Source: Encyclopedia of Race, Ethnicity, and Society; Hourglass Economy]
Broader concept
Belongs to group
URI
https://concepts.sagepub.com/social-science/concept/hourglass_economy
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