It is often said that the middle class plays a determinant role in the economic development of a given nation. How is that achieved?
Go through with the Amertya Sen's Economic system. if we see in practical definition about middle class than approx 60% will be represents to the service sector and economy based on monetary, fiscal or taxation system of a country. and this is practical economics not differ than theory. maximum tax like India paid by middle class from service sector and maximum loan also taken from bank by the middle class secondly production growth also depend on the purchasing power this mass group though i think middle class of developed and developing both country has a lead role in economic policy.
For example in UK small-medium enterprises (middle class), employing 60 per cent of the workforce and representing 50 per cent of GDP. But how that was achieved - remains a mystery to me.
Dear All,
Scientists and intelligentsia belong to the middle class!
Do you need any other data?
Through conformist roles of urban middle class with the liberalization of domestic policies along the lines of powerful global economic trends.
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