The Complacent Class: The Self-Defeating Quest for the American Dream
Healthy perspective on how America (and many other countries) have become more static, as people have become quite content with the status quo. We move around less, both in terms of jobs and homes. This has insidious consequences, such as further widening the income gap and segregation. Some even speculate that the recent Great Recession was prolonged due to a fairly inert response from the consumers. Is the fact that there are less riots a healthy sign, or a sign we don't care much anymore? Cowen makes an interesting argument that only about 10% of the state's budget is not already decided by previous policies. This is a staggering number, with that little flexibility, how can you adapt to a changing world? Furthermore, with a complacement class, all these changes that should be happening now but aren't, where will that leave the nation when it needs to make those changes? Because of the increased satisfaction with today, few go out of their way to pursue high-risk, high-reward opportunities—simply because the upside of making it big, isn't as strong anymore. Cowen essentially argues that the American dream has changed, and the lack of mobility is getting more and more locked in. The book ends by speculating that the near future may hold a correction.