While we are certainly in a worldwide recession, not everyone is hurting. Throughout much of the world a new middle class is expending. I read this article in The Economist and the one it refers. A lot depends on what you call middle class. The American Middle Class would hardly recognize the Chinese Middle Class, but a very large portion of the world is becoming the new world middle class and that means we will see a lot of the things that come with emerging middle classes. Things like more democracy and more migration from rural to urban areas. And political machines being replaced by term limits and subsidizing agriculture and selling lots of televisions and cell phones.

Tags: , ,