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How has the "hollowing out" of the middle class been well observed when the data required to observe it is unreliable and shallow?



You can usually infer quite a lot from income data anyway given that wealth and income tend to be quite closely related. Obviously, there are exceptions but in general there is a strong correlation.

Furthermore, Piketty and other researchers have gone to great lengths to get reliable wealth data despite the difficulties.

The difficulty of performing these investigations rigorously is why I would prefer to trust studies from professional economists rather than a hot-take from a blog.




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