BRINK LINDSEY: THE END OF THE WORKING CLASS.

Increased income inequality; wage stagnation; skill-biased technological change; productivity growth slowdown; rising college wage premium; labor-market polarization; declining prime-age labor force participation; low intergenerational relative mobility; declining absolute mobility—all of these are concepts developed by economists to describe the dimming prospects for ordinary American workers. Taken together, they inform the consensus view that something is wrong with the American economy that isn’t going away anytime soon.

But if we follow the experts in looking at our problems solely from an economic perspective, we will fail to appreciate the true gravity of our situation. Yes, the relevant data on “real” or inflation-adjusted incomes have been disappointing and worrisome for decades. In particular, the sharp rise in income inequality, created mostly by a rollicking rise in the top 1 percent of incomes, has meant that incomes for typical American households have not kept pace with the overall growth of the economy. Nevertheless, a careful and dispassionate review of the data shows that incomes continued to inch upwards since the 1970s. . . .

If we pull back from a narrow focus on incomes and purchasing power, however, we see something much more troubling than economic stagnation. Outside a well-educated and comfortable elite comprising 20-25 percent of Americans, we see unmistakable signs of social collapse. We see, more precisely, social disintegration—the progressive unraveling of the human connections that give life structure and meaning: declining attachment to work; declining participation in community life; declining rates of marriage and two-parent childrearing.

Wait, aren’t we supposed to be glad we’ve overcome bourgeois values?