Hidden costs of crisis
The NYTimes reports today on the stress and damage middle class families often experience when the breadwinners lose their jobs. Among other things, it can impact the children’s self-esteem and long-term earnings potential. This is certainly tragic, but compare this to those disadvantaged groups in our societies who have experienced this for generations. It suggests that the “culture of poverty” is a real social force. In both cases, a greater measure of financial security would surely ameliorate the worst of the effects.
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