Lacking the Middle in a Middle Class Society

1630 Words7 Pages
The global economy is the sum of all economies; a problem recognized and concerned is the elasticity and easily disrupted nature of market economies, resulting the shift away from human development to mass-market development. A vital contributor and mean of sustainment for the market economy is the middle class. Defined as the consumer class, a large middle class is representative and suggestive of low inequality; they are “powerful enough to be heard, but not elitist” (Birdsall). The questions that must be taken into consideration are as follows: Is the power of the developed middle class diminishing along with the group itself and how does it vary? Is it growing in less developed countries? If so, how will it affect the world economy and the speed of urbanization and development for the lesser countries? There are numerous answers to these questions and conflicting views on the health of the middle class; some find that it is the backbone of both the market economy and of democracy in most advanced societies, and others find that countries that have a larger middle class tend to grow faster, if they are not too ethnically diverse (Banerjee 3). On the other hand, others believe that power, in the hands of the middle class, is unhealthy for the market economy because they tend to have higher debts from loans and credit cards, contributing to a substantially high national debt. The majority of opinions on the middle class are positive ones; they contribute to economic growth, capital accumulation, household consumption, entertainment, technology, education, healthcare, and business (Banerjee 7-10). An overlooked but crucial issue concerning both China’s and the U.S’s middle classes is the widening gap in inequality and unequal d... ... middle of paper ... ...mix of history, policy, consumption, technology, social welfare, and development of institutions. The quality of a growing economy and advancing country relies on a thriving middle class, closing large gaps between the rich and poor, and reducing the high levels of poverty because each pose a struggle in furthering development. I believe the middle class does aid in economic growth, technological innovation, and furthered industrialization in both developed underdeveloped countries. If the middle class can grow, the rates of poverty may be lowered, and the standard of living may rise. Another I found was the subordination of females in virtually every aspect. I know it is apparent, but not to the extent in which it still exists. Both Kandiyoti and Troung find that women fight to gain acceptance and inclusion in the workplace, bettering their lives and life chances.
Open Document