Devin Fergus, an Arvarh E. Strickland Distinguished Professor at the University of Missouri, dives deep into the hidden costs undermining the American middle class in his insightful discussion. He sheds light on how fees embedded in everyday transactions contribute to wealth inequality. Fergus connects these financial burdens to deregulation and critiques policies impacting housing, education, and employment. He also addresses the pitfalls of payday lending and reflects on economic mobility myths, revealing the harsh realities for many.

Devin Fergus, Arvarh E. Strickland Distinguished Professor at the University of Missouri, dives deep into the unseen fees that subtly siphon wealth from the American middle class. He discusses how these hidden costs in housing, education, and transportation emerged from deregulation in the late 1970s. Fergus sheds light on the role of payday lending in perpetuating financial cycles of debt and critiques the auto insurance industry's biases against marginalized communities. His insights reveal the complex, often overlooked forces driving economic inequality in today’s society.