While the middle class was born in the late Middle Ages‚ it exploded during the Industrial Revolution as massive numbers of workers entered the industrial factory system. The middle class exited on a spectrum between the lower end (consisting of small shopkeepers) and the higher end (consisting of capitalists who owned companies)‚ All were united by several desires and beliefs—an open expanding economy was ideal‚ prosperity was the loftiest ambition‚ competition was beneficial‚ and the success of
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Paraphrase/Summary/Quotation Exercise In paragraph two of the article‚ “Can Middle Class America Be Saved?” the author‚ Don Peck‚ writes that America is made up of two demographics: “The rich and the rest [of the country].” The wealthy‚ having become increasingly more influential over time and better able to leverage this influence for personal gain and hedge themselves against economic bubbles‚ own such a vast majority of markets that their share dwarfs that of their counterparts that it is tough
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The Middle Class in America Is Radically Shrinking. Here Are the Stats to Prove it Posted Jul 15‚ 2010 02:25pm EDT by Michael Snyder in Recession Related: ^DJI‚ ^GSPC‚ SPY‚ MCD‚ WMT‚ XRT‚ DIA • 1048 Share • 38 retweet • Email • Print From The Business Insider Editor’s note: Michael Snyder is editor of theeconomiccollapseblog.com The 22 statistics detailed here prove beyond a shadow of a doubt that the middle class is being systematically wiped out of existence
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self-improvement in the middle class. In the end of the nineteenth century‚ the rise of consumer society had grown. With the consumption of mass produced goods was depended on by the growth of industries and growing cities (Faragher‚ 2009). The middle class was made of engineers‚ managers‚ clerks‚ and technicians for big businesses. The wealthy business owners and politicians made up the upper class that lived this lavish lifestyle. The middle class was not nearly as wealthy as the upper class but wealthy
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Outliers In life‚ all individuals want to stand out. They want to be the diamond in the rough‚ but only a few of them can ever be such a thing. According to Malcolm Gladwell‚ in his book Outliers‚ he asserts that individuals who are granted opportunities and advantages‚ which not everybody is given by fate‚ are more successful. He implicates that opportunity‚ hard work‚ birthdate‚ 10‚000 hours rule‚ and the background of the person are essential factors when being an outlier. Out of these
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During the Middle Ages‚ you live through different experience based on your social status just like in our society today. Whether it’s a hundred years ago‚ or even a thousand the social system is relatively similar. For example‚ you can compare the high class in our society with the nobles and lords‚ and the lower class would be the peasants and the serfs. There are many similarities between our social class‚ so it is understandable there are other similarities between us; like our experiences in
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As time has passed‚ the middle class population in America is beginning to diminish due to the decrease of jobs. One of the most appalling things in society is that “more than half of families in the United States earn $60‚000 or less per year” (Harris‚ 1). Because more than half of American families are earning less income than they should‚ Americans living in poverty has escalated. A majority of Americans strives to acquire a sufficient amount of money on part-time and temp jobs while prices and
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2.2.2. The Middle Class Stratum Opinions differ greatly about how a Middle Class shall be determined.31 Since income isn’t reported consistently and living costs and wages differ greatly between cities and across regions‚ I will rely on occupation as a criteria of the middle class stratum. As noted by many scholars‚ there’s no monolithic middle class in China due to its heterogeneity in terms of employment‚ relation to the state (Li‚ 2010) and political behaviour (Li He‚ 2010). Li Chunling (2010)
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The economic class that people belong to affords them certain privileges or disadvantages‚ depending on their status. For someone who is middle class or above‚ there are resources available that they can use in order to improve their experience. Middle class people of color are afforded this same kind of access‚ which they can use as well‚ but it is not quite the same as for those who are white. Often‚ people of color have to access and show their resources more than white people since they are mistreated
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It is also useful to consider how each economic class manages their money. The upper class and a large part of the middle class are knowledgeable about their wealth. Even for people in the upper and middle class who are not very knowledgeable with their wealth‚ they are often able to hire personal accountants and investment planners. Often is the case with individuals who are economically knowledgeable or are paying for personal wealth services‚ that any expendable income is invested into capital
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