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Half the world's population is now middle class or richer

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https://www.brookings.edu/blog/future-development/2018/09/27/a-global-tipping-point-half-the-world-is-now-middle-class-or-wealthier/?utm_source=newsletter&utm_medium=email&utm_campaign=sendto_newslettertest&stream=top

 

 

We make these claims based on a classification of households into those in extreme poverty (households spending below $1.90 per person per day) and those in the middle class (households spending $11-110 per day per person in 2011 purchasing power parity, or PPP). Two other groups round out our classification: vulnerable households fall between those in poverty and the middle class; and those who are at the top of the distribution who are classified as “rich.”

 

Our “middle class” classification was first developed in 2010 and has been used by many researchers. While acknowledging that the middle class does not have a precise definition that can be globally applied, the threshold we use in this work has the following characteristics: those in the middle class have some discretionary income that can be used to buy consumer durables like motorcycles, refrigerators, or washing machines. They can afford to go to movies or indulge in other forms of entertainment. They may take vacations. And they are reasonably confident that they and their family can weather an economic shock—like illness or a spell of unemployment—without falling back into extreme poverty.



I predict NX launches in 2017 - not 2016

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Glad to know markets are still helping raise health and living standards and eliminating poverty.

Capitalism FTW.


I predict NX launches in 2017 - not 2016

Gotta love capitalism, giving people with awesome ideas a way of fulfilling them then create jobs for other is why it's awesome. Most people work towards being rewarded for their work, no one is going to work towards having their rewards forcefully taken from them

Last edited by melbye - on 19 October 2018

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so anyone earning more than $110 a day is not middle class but rich, Wow Everyone I know is a member of the rich class



fleischr said:

1.  the middle class (households spending $11-110 per day per person

2. Our “middle class” classification says they are reasonably confident that they and their family can weather an economic shock—like illness or a spell of unemployment—without falling back into extreme poverty.

1. That's one hell of a range.  There is a huge difference there.

2. In Europe?  Yes.  In the US?  No.



Massimus - "Trump already has democrat support."

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What a complete bullshit graph. I can assure you that at least half of Bangla Desh and India falls into the "poor group", whatever way you want to define "niddle class".
Bad Science operating at its worst.



GProgrammer said:
so anyone earning more than $110 a day is not middle class but rich, Wow Everyone I know is a member of the rich class

Spending per day, not earning per day.  If you are spending $110 per person in your home per day, then = rich.  For a family of 4, that's $3,080 spent per week....$12,320 per month.



Massimus - "Trump already has democrat support."

i get/spend 3300 a month, in my country, if you not have over 5500 you not middle class, the minimum vital for live in my country for politic is like 4000, so this study not worked on all country for sure.





I am rich! I can now go buy food from the burger king and not feel bad about it.



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