Editorial
Rise of middle-class
There has been a considerable growth of global wealth and well-being over the past 200 years. In 1810, the nations of the world had low income and low life expectancy. Then came the industrial revolution and the nations of the West surged upward and to the right as they got richer and healthier. By 1948, it was a race, with the United States out front and the other nations of the world stretched in a long tail behind.
Over the last few decades, the social structure of the world has changed. The Asian and Latin American countries have begun to catch up. With the exception of the African nations, living standards in the world have started to rise. Now most of the countries are quite prosperous, thanks to the incredible reductions in global poverty and improvements in health.
The Unites States is the only major nation today and it calls the shot. The US is indeed defining itself not by its rank, but by its values. That's a good sign for the world as a whole. It is American policies that have resulted in the rise of a gigantic global middle class. In 2000, the World Bank classified 430 million people as middle class. By 2030, there will be about 1.5 billion. In India alone, the ranks of the middle class will swell from 50 million to 583 million.
To be middle class is to have money to spend on only necessities. It also involves a shift in values. Middle-class parents have fewer kids but spend more time and money cultivating each one. They often adopt the middle-class values like emphasizing industry, prudence, ambition, neatness, order, moderation and continual self-improvement. They teach their children to lead different lives from their own, and unleash a relentless spirit of improvement and openness that alters every ancient institution.
Over the next few decades, a lot of people are going to get rich selling education, self-help and mobility tools to the surging global middle-class. The United States will have to continue playing a distinct role in the world. In fact, American culture was built on the notion of middle-class dignity. That's the reason why the US attracts those students, immigrants and entrepreneurs who belong to middle class.
India too, like America, should celebrate and define middle-class values. We will have to do a better job of nurturing our own middle class. We have to cater to every nook and cranny of the middle-class lifestyle. We should learn from the rise of America as the most super nation. We should realize that it was not capitalism but middle-class values that gave birth to modern America. This is a middle-class century, thanks to America!
Rise of middle-class
There has been a considerable growth of global wealth and well-being over the past 200 years. In 1810, the nations of the world had low income and low life expectancy. Then came the industrial revolution and the nations of the West surged upward and to the right as they got richer and healthier. By 1948, it was a race, with the United States out front and the other nations of the world stretched in a long tail behind.
Over the last few decades, the social structure of the world has changed. The Asian and Latin American countries have begun to catch up. With the exception of the African nations, living standards in the world have started to rise. Now most of the countries are quite prosperous, thanks to the incredible reductions in global poverty and improvements in health.
The Unites States is the only major nation today and it calls the shot. The US is indeed defining itself not by its rank, but by its values. That's a good sign for the world as a whole. It is American policies that have resulted in the rise of a gigantic global middle class. In 2000, the World Bank classified 430 million people as middle class. By 2030, there will be about 1.5 billion. In India alone, the ranks of the middle class will swell from 50 million to 583 million.
To be middle class is to have money to spend on only necessities. It also involves a shift in values. Middle-class parents have fewer kids but spend more time and money cultivating each one. They often adopt the middle-class values like emphasizing industry, prudence, ambition, neatness, order, moderation and continual self-improvement. They teach their children to lead different lives from their own, and unleash a relentless spirit of improvement and openness that alters every ancient institution.
Over the next few decades, a lot of people are going to get rich selling education, self-help and mobility tools to the surging global middle-class. The United States will have to continue playing a distinct role in the world. In fact, American culture was built on the notion of middle-class dignity. That's the reason why the US attracts those students, immigrants and entrepreneurs who belong to middle class.
India too, like America, should celebrate and define middle-class values. We will have to do a better job of nurturing our own middle class. We have to cater to every nook and cranny of the middle-class lifestyle. We should learn from the rise of America as the most super nation. We should realize that it was not capitalism but middle-class values that gave birth to modern America. This is a middle-class century, thanks to America!
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