I’ve heard that the middle class doesn’t exist, but I’ve also heard that the rising middle class was necessary for capitalism. Is there a principled definition, because China seems concerned about growing their middle class.
What does it mean to you, I guess?
The petit bourgeois, people who partially own the means of production and make most of their income from ownership but must subsidize it with labor. Examples include small business owners, landlords who own property as an investment but also have a job, partners at a firm, or other people who have a vested interest in the success of the bourgeoisie but also sell labor. The middle class is very small and is not just another way of saying educated professionals and middle managers.