Part 6/9:
The increasing wealth gap poses a threat to the stability of society. Historically, significant disparities often precede instability and conflict. Research shows that as living standards for the majority decline and governmental funding becomes more challenging due to the tax loopholes exploited by the rich, class tensions are likely to simmer. The shrinking middle class serves as both a symptom and a contributor to broader economic malaise.
While life has improved compared to past centuries in terms of access to basic amenities, the present context feels more challenging because many people's living standards are stagnating or deteriorating. Informants share stories of working multiple jobs, perpetual financial struggles, and an escalating cost of living.