Forum

 
  Back to OzPolitic.com   Welcome, Guest. Please Login or Register
  Forum Home Album HelpSearch Recent Rules LoginRegister  
 

Page Index Toggle Pages: 1
Send Topic Print
Most are now Middle Class (Read 236 times)
aquascoot
Gold Member
*****
Offline


Australian Politics

Posts: 17693
Gender: male
Most are now Middle Class
Mar 15th, 2019 at 6:12am
 
Something of enormous global significance is happening almost without notice. For the first time since agriculture-based civilization began 10,000 years ago, the majority of humankind is no longer poor or vulnerable to falling into poverty. By our calculations, as of this month, just over 50 percent of the world’s population, or some 3.8 billion people, live in households with enough discretionary expenditure to be considered “middle class” or “rich.” About the same number of people are living in households that are poor or vulnerable to poverty. So September 2018 marks a global tipping point. After this, for the first time ever, the poor and vulnerable will no longer be a majority in the world. Barring some unfortunate global economic setback, this marks the start of a new era of a middle-class majority.

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.”

Authors
Homi Kharas
Homi Kharas
Interim Vice President and Director - Global Economy and Development

Kristofer Hamel
Chief Operating Officer - World Data Lab
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.

By classifying all households in the world into one of these four groups, using income and expenditure surveys from 188 countries, we are able to derive measures of the global distribution of income. Our social enterprise World Data Lab—the maker of World Poverty Clock—has refined these estimates and created a new interactive data model to estimate all income brackets for almost every country for every point in time until 2030 by combining demographic and economic data.

A lot has been written about the world’s progress in reducing the number of people living in extreme poverty, as highlighted in the recent Goalkeepers report put out by the Bill and Melinda Gates Foundation. We believe that another story relates to the rapid emergence of the global middle class. This middle class story is probably bigger in terms of the number of people affected. In the world today, about one person escapes extreme poverty every second; but five people a second are entering the middle class. The rich are growing too, but at a far smaller rate (1 person every 2 seconds).

Back to top
 
 
IP Logged
 
Pedro Curevo
Full Member
***
Offline


Australian Politics

Posts: 193
Nth Coast NSW
Gender: male
Re: Most are now Middle Class
Reply #1 - Mar 15th, 2019 at 8:54am
 
If everything is so hunky dory how is it that here are more people living homeless...the working class has to work two jobs to survive..??
Back to top
 
 
IP Logged
 
aquascoot
Gold Member
*****
Offline


Australian Politics

Posts: 17693
Gender: male
Re: Most are now Middle Class
Reply #2 - Mar 15th, 2019 at 10:03am
 
Pedro Curevo wrote on Mar 15th, 2019 at 8:54am:
If everything is so hunky dory how is it that here are more people living homeless...the working class has to work two jobs to survive..??



the working class has to work 2 jobs to have

2 modern cars
2 color tv's, game consoles, dvd players
smartphones for every family member
15 pairs of shoes for every family member
netflix or stan
air conditioning.


they live in more luxury then a king or queen from 100 years ago
Back to top
 
 
IP Logged
 
tickleandrose
Gold Member
*****
Offline


Australian Politics

Posts: 2585
Gender: female
Re: Most are now Middle Class
Reply #3 - Mar 15th, 2019 at 4:48pm
 
aquascoot wrote on Mar 15th, 2019 at 10:03am:
Pedro Curevo wrote on Mar 15th, 2019 at 8:54am:
If everything is so hunky dory how is it that here are more people living homeless...the working class has to work two jobs to survive..??



the working class has to work 2 jobs to have

2 modern cars
2 color tv's, game consoles, dvd players
smartphones for every family member
15 pairs of shoes for every family member
netflix or stan
air conditioning.


they live in more luxury then a king or queen from 100 years ago


Hehe, Aqua, thats would be a couple on 250K a year  Smiley
Back to top
 
 
IP Logged
 
Ye Grappler
Gold Member
*****
Offline


Australian Politics

Posts: 42869
Mid-North Coast NSW
Gender: male
Re: Most are now Middle Class
Reply #4 - Mar 15th, 2019 at 5:21pm
 
More Middling Crass I'd venture to suggest..... nothing worse than a classless and crass mediocrity...
Back to top
 

“Facts are stubborn things; and whatever may be our wishes, our inclinations, or the dictates of our passion, they cannot alter the state of facts and evidence.”
― John Adams
 
IP Logged
 
Page Index Toggle Pages: 1
Send Topic Print