9/9/2023 0 Comments Financial freedom synonymPlease add your own views on this question below, and/or contact In this paper, we describe the various approaches to defining the middle class, along with their pros and cons. Our new Future of the Middle Class Initiative will be settling on a working definition soon, and we would love to hear from you. For scholars, the value of any definition depends on the question they are trying to answer. But it does mean identifying the middle class with sufficient precision to be able to accurately measure progress, as well as develop and assess policy. In the final analysis, any definition of the middle class will be more or less arbitrary. This doesn’t mean slavishly adopting only one narrow criterion, to be used at all times. The crucial questions we need to answer are: why are we analyzing the middle class and its shifting fortunes, what are the main challenges they face, and how can the quality of life of the middle class be improved? All of this requires a reasonably clear idea of who we are talking about. It is difficult to describe the condition and challenges of the middle class without some clarity about who comprises the group in question. There is a kaleidoscopic range of definitions of the middle class, from a wholly subjective set of aspirations to a highly specific measure of household income, and everything in between.ĭisagreements over who counts as middle class are not merely scholarly quibbles. But there is nothing approaching a universal definition. Concern about the fate of the middle class is now almost universal. When spelled as financials, it can act as a noun.The economist Robert Solow noted that “there is no shortage of talk about the middle class”-and that was 10 years ago. – Bloombergįinancial is an adjective that relates to the word finance.
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