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The term "middle class" is first attested in James Bradshaw's 1745 pamphlet Scheme to prevent running Irish Wools to France. [6] [7] Another phrase used in early modern Europe was "the middling sort". [8] [9] The term "middle class" has had several and sometimes contradictory meanings.
An hourglass economy is an economy that produces more upper and lower classes, causing a decline in the middle class. [1] An example would be during the Industrial Revolution when the introduction of efficient machinery created stratification of the classes with more lower paying unskilled jobs. This can be seen when the peak of a particular ...
If middle class is used in a manner that includes all persons who are at neither extreme of the social strata, it might still be influential, as such definition may include the "professional middle class", which is then commonly referred to as the "upper middle class". Despite the fact that the professional (upper) middle class is a privileged ...
Being middle class has traditionally been associated with a cushy lifestyle -- one where you're not living month to month and can afford to take annual family vacations. But the definition of what...
The middle class is a broad group of people, so it's separated into three categories: Lower middle class, middle class, and upper middle class. Here's the financial data for each one.
“The middle class, generally, has the financial stability to maintain an emergency fund, typically recommended to cover three to six months of living expenses, at a minimum,” he said.
While U.S. middle-class family incomes have stagnated as income shifts to the top, the costs of important goods and services continue rising, resulting in a "middle-class squeeze." [1] The middle-class squeeze refers to negative trends in the standard of living and other conditions of the middle class of the population.
Peter C. Earle, an economist at the American Institute for Economic Research, says that if you asked five different economists what defines the middle class, you'd get six different answers. It's a...