Falling Behind

By Robert Frank,

Book cover of Falling Behind: How Rising Inequality Harms the Middle Class

Book description

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…

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Why read it?

1 author picked Falling Behind as one of their favorite books. Why do they recommend it?

Frank is, in my view, one of the most engaging writers on inequality. 

He has developed interesting insights like the “winner takes-all society”: the idea that we live in a world in which a small group of people reaps most of the benefits in all markets from sports to music or academia. 

In Falling Behind, Frank shows how inequality does not only harm the poor but the middle class as well.

I like how he combines economic data with many examples to show how consumption patterns among the wealthy lead to an “expenditure cascades” that force the middle class…

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