The rich have the greatest discretionary wealth, and spend the most per person. But, they also can’t spend it all, and there aren’t enough of them to make a major positive impact on the economy. Retailers, a major segment of the economy, rely on the middle class because there are more of them and, though they spend less per person, the aggregate sustains businesses. Unfortunately, the Great Recession hurt the middle class more than the rich, so retailers are slow to recover. As the middle class shrinks, retailers make less, and the economy loses a source of growth.
“The Rich Can’t Save Retail” – American Progress
Pretending Not To Panic 