Oh yeah, I remember. I even remember thinking how you could further split the middle class into upper-middle, middle-middle and lower-middle and they'd all be managing.
The article says by all traditional measures the economy is strong and it feels like that just show how BS economics is. People play with numbers and statistics, creating their own definitions and say things are great while ignoring reality. What even is middle class anymore?
The term originated in the early modern period of Europe. It refereed to a relatively new class of people who had wealth and power to rival the aristocracy, but were born peasants. IE, capitalists. If you asked a medieval lord, they'd tell you our ruling class is their middle class.
Remember when middle class almost definitionally meant not struggling financially?
Okay fine, I’m old.
Oh yeah, I remember. I even remember thinking how you could further split the middle class into upper-middle, middle-middle and lower-middle and they'd all be managing.
The article says by all traditional measures the economy is strong and it feels like that just show how BS economics is. People play with numbers and statistics, creating their own definitions and say things are great while ignoring reality. What even is middle class anymore?
The term originated in the early modern period of Europe. It refereed to a relatively new class of people who had wealth and power to rival the aristocracy, but were born peasants. IE, capitalists. If you asked a medieval lord, they'd tell you our ruling class is their middle class.