The middle class, in the West, is able to use the fruits of their labor to acquire minimal capital - house, 401k, savings, coin collection, a plot of land, etc.
This minimal capital is highly subject to the vagaries of the market, nor is it sufficient, for most of them at least, to have have the value of their capital be self-perpetuating. It's also not enough to live on.
If you make enough to invest enough that the investments are their own fortune, separate from the input of your business or salary to increase them, than you're no longer middle class, you're rich.
Okay i could get behind this definition. The middle class becomes the mediators and guarantors of the capital of the upper class and the principal consumers of abs demand for the lower class
I agree though isn't that still a class that trades time for money? I don't think there is really a modern day equivalent of an actual middle class
The middle class, in the West, is able to use the fruits of their labor to acquire minimal capital - house, 401k, savings, coin collection, a plot of land, etc.
This minimal capital is highly subject to the vagaries of the market, nor is it sufficient, for most of them at least, to have have the value of their capital be self-perpetuating. It's also not enough to live on.
If you make enough to invest enough that the investments are their own fortune, separate from the input of your business or salary to increase them, than you're no longer middle class, you're rich.
Okay i could get behind this definition. The middle class becomes the mediators and guarantors of the capital of the upper class and the principal consumers of abs demand for the lower class