Quote:
Originally Posted by Docere
If the middle class "everybody that isn't rich or poor" then the term is meaningless.
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This.
It blurs a whole bunch of relevant and important distinctions which may or may not have to do with income.
Quote:
Originally Posted by Steely Dan
it is in the middle, numerically speaking.
if you make the exact national median income, then half of the people in the country make more than you, and half make less.
you are "in the middle" of all the people.
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But it doesn’t mean being in the middle of all of the people. It means that of the 3 broad “classes” into which one can logically segment the population, someone is part of the middle one of those 3.
See the difference?
And because those segments are very unequal in size, the two approaches produce very different results.
Quote:
Originally Posted by Crawford
The U.S. doesn't have landed gentry so the UK's archaic class consciousness isn't applicable here. There's no need to separate nobility from bourgeoisie or any such nonsense.
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Keep telling yourself this.
Just because assets are financial and not land, doesn’t mean the dynamic is any different. There is a sociodemographic class in the US, small in number but in control of a significant percentage of national assets, who can live off of their (often inherited) capital. And the more mature the US becomes as a country, the more entrenched and inter-generationally stable this class becomes.