"Whither the Middle Class'? A Dynamic View"

Research using cross-sectional survey 'snapshots' of household income taken over the past quarter century reveals a growing inequality in the distribution of annual money income of households in the United States (Thurow, 1987; Levy, 1987; Levy and Michel, 1991; Michel, 1991; Karoly, 1990; Center on Budget and Policy Priorities, 1990; Easterlin, MacDonald and Macunovich, 1990), prompting some to argue that the U.S. middle class is disappearing (Phillips, 1990; Bradbury, 1986). Aggregate data from the National Accounts and from wealth surveys (Wolff, 1989; Eargle, 1991) reinforce this conclusion by showing a growing share of income from capital, a falling share for earnings, and a slightly increasing concentration of wealth among upper-income groups. Also well-documented is greater inequality in the size distribution of earnings and wages in the late 1980s as compared to one or two decades before (GottschaLk and Danziger, 1989; Burtless, 1989; Blackbum et al., this volume). Despite the consistency of these results, their almost universal reliance on data drawn from cross-sectional snapshots leaves unanswered many important questions regarding the nature of the changes taking place in the distribution of income and wealth. Most importantly, cross-sectional snapshots provide information only on net changes in economic position and thus reveal little about the extent and nature of movement into and out of the middle class.. Are increasing numbers of families 'falling from grace', as Katherine Newman (1988) puts it? If so, who are they and what events are linked to their income losses? Or is mobility into the middle class declining? And, if so, does this affect in particular young families? What avenues for upward mobility are disappearing? These are the types of questions we seek to address for adults crossing either the lower or the upper boundary of the middle class. A second set of issues we address involves linkages between changes in income and changes in wealth. We analyze trends in the transitions of prime age (25-54 years old) adults into and out of the middle class using 22 years of data from the Panel Study of Income Dynamics. We begin by reviewing the methodology and measurement procedures that we employ to define the middle class and transitions into and out of middle-class status. Next we present our basic findings which, in fact, show a persistent 'withering' of the middle class since about 1980. We then search for clues as to who moved into and out of the middle-income groups and the source of such changes. Because notions of 'class' are usually based on measures of wealth as well as income, we also investigate longitudinal changes in the wealth distribution in the 1980s for these same individuals. Our findings on wealth reinforce those based on income. The paper concludes with a brief discussion of the policy implications of our findings.

Biosimilars of low molecular weight heparins:Relevant background information for your drug formulary

Biosimilars of low molecular weight heparins (LMWHs) are more alike the originator than different branded LMWHs. The latter differ largely in molecular weight, anti-FXa/anti-FIIa ratio and antithrombin binding. The Food and Drug Administration and European Medicines Agency guidelines are sufficient for the clinical use of high quality LMWHs. However, the Food and Drug Administration guideline lacks the results of a phase I clinical trial in the approval process. Most information about biosimilars is available for enoxaparin given that many biosimilars of enoxaparin have received market access. The guidelines of many International Thrombosis Societies for LMWH biosimilars are too stringent, not updated and impractical for formulary uptake discussions. This review gives background information on critical factors for the formulary uptake process of LMWHs with special attention for the use of the System of Objectified Judgment Analysis/Infomatrix model

Slow Motion: Economic Mobility of Young Workers in the 1970s and 1980s

This paper investigates the question of how long it takes young male workers to earn enough to reach a given standard of living, e.g., enough to support a family. We use the Panel Study of Income Dynamics data on the earnings of children and their parents to answer these questions. Our findings are that all groups of men, classified by race, ethnicity, and education level, are taking longer to reach a given standard of living. Some, e.g., undereducated black males, will never reach middle class standards of living for themselves. Implications for household formation, marriage, and public policy are discussed in closing

W(h)ither the Middle Class? A Dynamic View

A constant theme throughout the history of the U.S. has been the growth of the middle class and the promise of its growth for the elimination of poverty. By the late 1980s, social analysts sensed a decline in the size of the American middle class which later was verified through cross-section analysis of wage and salary and income distribution data. Using time series from the Panel Study of Income Dynamics for prime-age males, this study moves beyond verification of the shrinking of the middle class. The analysis examines changes in both income and wealth and finds that wealth increases reinforced income changes at the upper end of the distribution while for low-income households, real earnings have stagnated. The analysis also finds that demographics and cyclical factors account for little of the shrinkage of the middle class, although, cyclical factors in the late 1980s reduced the upward mobility of lower-income households and increased the downward mobility of many in the lower range of the middle of the income distribution. This coupled with the gains to upper income households generated by the 1986 Federal Tax Reform enlarged the number of households at both ends of the income distribution at the expense of the middle class. Moreover, the authors find that prime-age adults who began the 1980s in the middle-income category had a greater probability of falling to the lower class than of rising to the upper class