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François's avatar

I grew up in the US in the 1970s and 80s, with college and grad school in the 90s -- back before the truly rampant inequality had kicked in. My professional life began in Canada c. 2003 and then I moved back to the US in 2014. What I concluded about the US economic system was that its most impressive feat is to generate feelings of economic precarity and vulnerability way, way up the economic ladder. Households can earn $400K or more per year (multiples of what I earn) and yet still not feel comfortable. Personal savings demands for children's college and for one's retirement are incredibly onerous. Throw in the medical system -- and the fact that even very well-insured people can be subject to ruinous costs at just the time one's income would cease or be dramatically reduced -- and one never feels like one is just a step or two away from living on the edge.

In Canada and most developed countries, by contrast, one can feel economically safe with a fraction of the income.

It truly is the genius of the US system.

f & c's avatar

I must say I feel generally very remote from New York (in my tiny, sleepy accidental hometown Düsseldorf in Germany) but I am such a fan of sociological analysis and storytelling (and of Bourdieu) in general that I am intrigued, you seem to be starting one of your ongoing posts... Very interesting!!!

In a very small way (it is a buddi g hope that up until now only encompasses Die Linke - I hope it will spread) we see some shifting on the political left side in Germany too...

Oh well - no doubt: hope is such a powerful life force and I can't get enough of these rousing good news from your favourite city 🤓

Thanks!

And I will look at the study of Rotterdam... Good stuff!

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