Middle Class Decline? The Growth of Professional-Managers in the Neoliberal Era

Abstract

This study examines changes in the U.S. class structure under neoliberalism. Applying a Marxian analytic framework to U.S. Census data from 1970 to 2010, we find that the professional middle class grew to 32% of the workforce and experienced steady earnings growth. The working class declined in size and earnings, the petty bourgeoisie remained stable but lost income, whereas the ruling class advanced significantly on both fronts. This overall pattern was more pronounced for whites, Asians, and women than for blacks, Hispanics, and men, confirming some but upending other expectations about the social ramifications of neoliberal policy.