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Slate.com
Income inequality begins to hit business in the pocketbook
Income inequality begins to hit business in the pocketbook

There's a new element in the debate over U.S. income inequality, and it's one that may actually get our political leadership talking about ways to address the issue: businesses are beginning to notice that their middle-class customers have disappeared. The consumer market is beginning to look like a sandwich without meat in the middle--there are enough wealthy customers to keep the luxury market humming along, and a growing demand for cheap no-name and other bargain products.  The phenomenon has been reported by Matthew Yglesias of Slate.com and more recently by Nelson Schwartz of the New York Times. As we reported here and here, it's been building for years. But it...

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