More ‘middle-class’ escapees are climbing in income rather than falling, which makes the relative influence of the upper class larger
How frightened should we be about the shrinking of the middle class? On Friday our Tom Blackwell discussed a big OECD report on the apparent contraction, and the potentially grim economic fate, of the middle class in the organization’s industrialized member countries. This is a statistical venture well choreographed to match current political trends. Canada’s Liberals, under Justin Trudeau, are particularly fond of talking non-stop about the defence of the middle class.
The trick here is that in general, and throughout the OECD, almost everybody considers himself “middle-class” whatever his position in the real income distribution. The exceptions are Britain and the old Soviet bloc, where the “working class” label still has contrarian prestige.
If you’re doing economics rather than sociology, defining “middle class” by income rather than culture, education or occupational prestige makes sense. The well-being of the “middle class” is practically important in a world where a successful state is bound to survive by taxing incomes broadly. As a matter of pure technique, a country needs its middle class to not feel too disloyal to the ruling authority.
The last 30 years are arguably just one huge donation of sharp middle-class income growth to the developing world
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Colby Cosh: With advance polling, prepare for extra suspense in Alberta’s electionThe final number of “vote anywhere” ballots could be a quarter million or more. If the race is close, there will be doubt
Read more »
Colby Cosh: Bernie Sanders, the millionaire who hunts billionaires‘If you write a best-selling book, you can be a millionaire, too,’ the Democratic presidential candidate says, sounding a bit Republican
Read more »
NHL players, analysts feeling nerves on night one of playoffs - Sportsnet.caNHL analyst armdog joins timandsid to discuss night one of the StanleyCup Playoffs and reminisce about his playing days.
Read more »
Colby Cosh: With advance polling, prepare for extra suspense in Alberta’s electionThe final number of “vote anywhere” ballots could be a quarter million or more. If the race is close, there will be doubt
Read more »
Colby Cosh: Bernie Sanders, the millionaire who hunts billionaires‘If you write a best-selling book, you can be a millionaire, too,’ the Democratic presidential candidate says, sounding a bit Republican
Read more »
For millennials in Canada, the middle class dream slips a little further away: OECDJust 59 per cent of Canadian millennials were found to have attained middle class status by their 20s, compared to 67 per cent of their boomer parents
Read more »
For millennials in Canada, the middle class dream slips a little further away: OECDJust 59 per cent of Canadian millennials were found to have attained middle class status by their 20s, compared to 67 per cent of their boomer parents
Read more »
Police locate vehicle that struck man at College and Spadina streetcar stop; suspect outstandingPolice say they have located the vehicle that struck a 21-year-old man at a College and Spadina streetcar stop on Sunday. The suspect is still outstanding.
Read more »