Anonymous
Anonymous asked in Social ScienceEconomics · 8 months ago

what is the disadvantage to not having much of a "middle class"? (in any economy) and is the USA becoming like other third world countries?

the USA is becoming a 2 class society very quickly? poor and super rich? why and what is the benefit to having a middle class for the economy?

Update:

countries like Denmark etc are socialist and have one of the most envied societies in the world, no crime, etc, and i think a much more even distribution of income

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  • 8 months ago
    Favourite answer

    Thank you for an excellent question!

    The importance of a middle class in our society and in other countries where self government is important is the ability to support yourself, pay your taxes, achieve what you want, do the type of work you desire and keep a family.

    The middle class creates goods and services that we all buy.  And so having a job that pays a living wage is what supports industry and a strong economy.  And when people are out of work, the entire economy collapses because the poor cannot support it and the wealthy aren't interested in sharing.

    Perhaps in the future we will be like the people on Star Trek....we all have jobs to do but we do not seek wealth or material possessions.

  • Oiy
    Lv 6
    8 months ago

    If you believe in Marxism, it's so important to generate the middle class or the working class to reach the utopia. It means equality. But who cares, if we still live in a free society. Everyone has the same chance to be poor or rich. Who will go back to work, if you don't have a chance to get rich than the others?

  • 8 months ago

    No we are not. More people have been engaged in gainful employment than at any previous time in history. It is up to the individual to join the middle class if they work hard enough and are smart enough.

  • 8 months ago

    Middle class has some money and spends it. Poor people have no money and spend any assistance they might get. Super rich people hoard money in offshore bank accounts. The divide between the mega wealthy and everyone else is of the this countries biggest problems. 

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  • Anonymous
    8 months ago

    It is a fallacy to say the middle class is disappearing. It is considerably more diverse now, including tradesmen, teachers and other public sector workers, lawyers, physicians, IT professionals, entrepreneurs, etc. The middle class annual income ranges from $50k to about $1 or $2 million, so it is a big tent.

  • Anonymous
    8 months ago

    Middle class makes up most of the consumer market and the demand for the products produced by the corporations and the upper class. As well as the skilled and technical work force.

  • Anonymous
    8 months ago

    When we give away our resources, and don't have many working class.  Equals to a socialist country.  Just upper class and a lower class.  

    This what happens when you have so many people claiming that they are disable that can not work.  Or should I say choose not to work. 

    FOR THE LOVE ALL ALL THINGS DENMARK IS NOT A SOCIALIST COUNTRY

  • LilyRT
    Lv 7
    8 months ago

    a middle class provides a step for upward mobility.  if there are only two classes, then it becomes harder and harder to break out of poverty.

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