your response is one sided and in sync with your leftist philosophy. "2. The huge rise in education has made the young job seekers much more desirable than their fathers." can you substantiate this premise?
I think another issue for the middle class is the rise of consumption and credit. We want our kids to have what we didn't so we don't think twice about buying them a $500 phone. With monthly payments, everything becomes affordable even that 70k truck we saw on tv.
I like your definition. I think in the US the problem is those in the middle just can no longer afford all the expected middle class life style. The question is what is the "expected" middle class life style? A house, two car, vacation in Europe every year....? Here is an article about why current generation is having difficulty making it: http://www.cnbc.com/2017/05/16/mill...to-stop-buying-avocados-to-afford-a-home.html It is of course an over simplification but the general population in the US no longer save and sacrifice to build a better future for themselves.
the fundamental problem is cost of doing business in the US getting more expensive. All areas of US econ have grown to the max, there's no room for growth anymore. then Capital d have to go else where to find profit. We'd need WW3 to thin the herd it's cycle of life (either by artificial means or by natural cause).
Of course Ronald could on a whim banish technology as the work of the devil or something. That would mean jobs for all but life like the Amish. Well he is daft enough !