TIME NextDraft

Why The U.S. Middle Class Is No Longer the World’s Richest and Other Fascinating News on the Web

April 22, 2014

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1. Stuck in the Middle

America is still the world’s richest large country. But that’s only when you average out the earnings across all income levels. For the first time in decades, the American middle class is no longer the world’s richest (blame Canada). Here’s Harvards’s Lawrence Katz: “In 1960, we were massively richer than anyone else. In 1980, we were richer. In the 1990s, we were still richer. That is no longer the case.”

+ Your money or your life? It turns out the two are deeply connected. The richer you are, the older you’ll get.

+ MoJo: 10 poverty myths, busted.

+ If you want a good, longterm investment, then why are you buying a house? (Because it’s almost impossible to host a brunch in a mutual fund?)

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