Does new affluence signal shifting global power

By 2022, those living in poverty will be a minority for the first time, as the global middle class – particularly from BRIC (Brazil, Russia, India, China) nations – surges. Does new affluence signal shifting global power?

“This dwarfs even the 19th-century middle class explosion in its global scale,” noted economists Dominic Wilson and Raluca Dragusanu in a 2009 Goldman Sachs report. And they predicted, “the pace of expansion … is likely to pick up.”

Comments


  1. Peter Stern

    I’m seeing it very differently, as the U.S. Corporate/Military Machine is sending the once-thriving Middle Class into extinction.


    • Jimmy Kilpatrick

      It’s easy to blame Wall Street and the bomb makers for everything. The problem with liberals is their lack of understanding of what makes the world go around. Cuba, China and Vietnam to name a few Communist countries are moving into a free enterprise system and the idiots leading this country are moving into a government run state. Do you really think that is the answer?


  2. Concerned Teacher

    Well, the Finns have a far more socialized economy than we do. They enjoy some of the best schools in the world and an almost nonexistent poverty rate. They have revitalized their economy…people live pretty well there.

    I am not convinced a relatively pure free market is our answer. Americans love to believe the free market solves all of the problems that crop up, but I just don’t see the evidence that this is the case.

    And, yes, we have some significant problems at home with greedy business persons engaging in illegal or at the very least, highly unethical, practices that have damaged our economy. We do spend an inordinate amount of our money on military and war to be the “world’s policemen.” When it is time to attack government spending, the Pentagon budget is a sacred cow and must not be touched, as it bloats and encompasses an ever greater percentage of our resources. Why?

    Why, for example, do we permit oil companies to drill offshore on the cheap. Dangit, we have a right to protect our natural resources, our homes and lives by requiring that the most technologically sound equipment be installed on offshore wells. Millions of people and livelihoods are at stake. We have the right to regulate the behavior of corporations that in a single accident can do almost irreparable damage to the economy in an area. The Europeans make darn sure that offshore drilling rigs are equipped with the best valves, etc. Too doggone bad if it costs a company that rakes in billions and pays no taxes (but enjoys government subsidies) a hundred thousand or even a million dollars.

    Perhaps the best economy is a mixed economy that controls, to some degree, for human greed and avarice in certain arenas of life.

    No system will be perfect as human beings are corruptible and the corrupt will manipulate any system to their advantage. These “sociopaths” have little concern for the average person.

    Meanwhile, the poverty rate here soars past that of most developed nations.


  3. Peter Stern

    There are fewer “free markets” in today’s World and even fewer for the U.S. We usually get the shaft in a free trade agreement, as may be seen re: the automobile manufacturing industry as we pay more for Asian cars than Asians pay for ours.

    Once upon a time deregulation was a good thing, but that was then and this is now.

    Three years ago Texas deregulated the tuition of higher education, thanks to Gov. Perry and legislators. The result has been 4 or 5 significant tuition increases since the law was approved and came into affect.

    These days we need “some” control on our markets because the elite Corporate/Military oligarchy is too greedy. Our middle class is being compromised and is fading into the sunset.

    We need laws that prohibit top-dollar political and campaign contributions, gifts and perks. That could help level much of the playing field for We, the People.


  4. brencis

    It is actually BRICS.

    Brazil, Russia, India, China, South Africa

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Monday

May 30th, 2011

Staff Reporter EducationNews.org

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