Research Scholar Robert Frank on the effects of income inequality
March 22, 2012
Excerpt from Reuters -- "'There has been extraordinary growth in the 1 percent,' Frank said. 'Ordinary people don’t want to emulate them, but what happens is that the people who are next to them want to emulate them, and so on. That social cascade ultimately explains why the middle-class home got 50 percent bigger in the past three decades.'"