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Originally Posted by bm bradley
in the grand scheme of things the middle class is a very recent phenomena, and possibly artificial, and possibly not really destined to last.
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If you look at human history then yes a "middle class" is relatively recent and uncommon. It is not artificial though. I also do think it will last, but the days of cheap and easy credit and being able to live well beyond your means with your HELOC are over. People today also have a crushing amount of debt to get out from under.
Quote:
Originally Posted by $5 submissions
Interesting conclusion. Don't industrialized societies require an educated class of people that are above the direct producers but below the owners?
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Yes.