The Human Cost of Recessions

In today's New York Times, David Brooks discusses the disappearing middle class, or more specifically, those people who are currently in the middle class but will slide down the ladder of social mobility as the current recession deepens. Putting aside any discussion of how bad the recession will be, or what its effects will be in terms of social mobility, I find Brooks' remarks on the social cost of recessions to be insightful and something we do not often hear about.

Losing an income or a sense of economic security during an economic downturn (either a national or a personal one) is painful. Losing ties to your community and becoming socially and psychologically isolated is much worse.