Gender pay gapPhoto bykting, CC0, via Wikimedia Commons

During the last couple of decades, the chasm that has separated America's lower classes from its middle classes has grown to alarming dimensions, underscoring an economic divide so serious it threatens the social texture of the nation. This chasm depends on the complex conjunction of economic, social, and political factors to develop, and thus, the grounds on which the American Dream is based are increasingly unstable, making millions struggle to make ends meet in the face of a shrinking middle class fighting for a foothold. The reverberations of this chasm are so profound, from social mobility to political stability, that they require immediate attention if we are to reestablish a shared sense of prosperity.

The Erosion of the Middle Class

We have often thought of the middle class as the backbone of American society, joined in one unit by its binding force, a paradigm of upward mobility and economic security. But over recent decades, it's kept shrinking as more families fall down the income ladder and fewer rise up into affluence. This is far more than a statistical decline; it's a conceptual change in how one thinks of the economic landscape.

Whereas wages for many middle-class jobs leveled off, the cost of living still goes up. Housing, health care, education, and child care-the paths to a secure middle-class lifestyle-continue to be increasingly unaffordable for many Americans. This being said, the middle class is thus squeezed from both ends: fewer and fewer opportunities to save, invest, or build wealth exist. That once was the hallmark of middle-class success-homeownership-now for many has turned into a dream, which is increasingly unreachable, especially for younger generations burdened by student debt and rising rents.

The Lower Class

Matters are even worse in the case of the lower class: precarious employment-for instance, much low-wage employment-characterizes most of the lives of many workers; benefits and job security are almost nil, let alone opportunities for job improvements. While the gig economy may bring flexibility to some, it has increasingly become one of the leading factors in many workers' economic insecurity, leaving them open to exploitation and financial instability.

Besides, years of underfunding and political neglect whittled down the safety net available for cushioning the most vulnerable. Affordable housing, healthcare, and education-avenues very important in coming out of poverty-remain unreachable and trap many into an unending noose of poverty that is hard to come out of. This is the net result: a growing underclass of Americans who, despite firm efforts, cannot pull themselves up the economic ladder.

The Consequences to Society

The causes of these growing spreads between the top and the middle classes have greater implications for American society. Perhaps one of the most unsettling consequences is that social mobility-the notion that whoever works hard enough and wants it bad enough can rise from his or her station in life-can be said to be deteriorating. As economic inequality widens, the rungs on the ladder of opportunity are more widely spread, and people struggle ever harder to move up and improve their lives.

Inability to be mobile breeds resentment and disillusionment from those who feel left behind by the system. It also feeds political polarization with many folks increasingly turning to the extremes as a response to frustrations about their economic woes. In fact, the economic divide can be considered the very meat of the rise of populism-from left and right-wherein politicians tap into this kind of anger and discontent amongst a citizenry for whom the American Dream has somehow fallen out of reach.

The Way Forward

It represents an economic inequality gap that, if not taken care of, will only continue to widen unless some sort of multi-layered approach is made to tackle the root causes. First and foremost, wages have to be raised for the low- and middle-income classes so that everyone who works full-time earns enough to sustain a decent standard of living. This can be possible by increasing the minimum wage, strengthening labor unions, and fostering job security policies that ensure employment security.

Besides increasing wages, investment in education and training programs is important to provide workers with the necessary skills they need to flourish in this rapidly changing economy. That is, making higher education more affordable, vocational training more available, lifelong learning opportunities, and making sure our public schools provide a quality education for every child-regardless of their zip code.

In that regard, other fundamental constituents of economic security are affordable healthcare and housing. Opening access to these vital services will not only improve the well-being of individuals and families, but it is going to help in bringing down the disparities in economy that are driving the gap between the lower and middle classes.

There is the problem of accumulated wealth and power at the pinnacle of the economic ladder. Fair taxation that sees to it that the wealthy pay their due share, and stringently regulated controls on corporate monopolies ensuring competition.

Conclusion

There cannot but be one crisis that can no longer be ignored, and that is the widening gap between America's lower and middle classes. It is not only an economic issue but a moral one, speaking to the very values of fairness, opportunity, and shared prosperity said to define us as a nation. But the only way for us to bridge this chasm and restore the promise of the American Dream is for us to take bold action in making an economy that actually works for all, not just the privileged few. Our future as a society depends on it.