5 Jul 2019
Have we Forgotten the Middle Class?
Session 8
Public debate in developed countries has focused on the two extremes of the income distribution, the richest and the poorest, keeping the middle in oblivion, before it came back in the front with the 2016 US presidential election and the « yellow vests » movement in France. Meanwhile the emergence of a middle class is celebrated in developing countries, as a hope for stable democracy. However, in developing countries, middle class starts as low as 4USD per day.
What is the common denominator of belonging to middle classes? Are they disappearing ? Do individuals who belong to the middle class experience a decline in their status during their lifetime or from one generation to the next? Is the evolution of the middle class linked to the distrust in democracy ?
Contributions
Session 8 : Governments must act to help the struggling middle class
A strong and prosperous middle class is crucial for any economy, crucial for every society. It is needed to sustain consumption and investment in education, health and housing. Societies with a strong middle class have lower crime rates and enjoy higher levels of trust and life satisfaction. The taxes the middle class pay are essential to fund social protection. Moreover, the middle class is also essential for political stability and good governance.
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