alt Hacker NewsThis comment would make more sense if more than ~38% of the country had a college degree. Can you really make the argument that college is truly a middle class concept if not even half of the populations has a bachelor's degree? I guess if you include community college which has really helped to serve the downtrodden get on their dream paths then I guess it makes more sense?
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The middle class is something in between the capitalist class and the working class, it's badly defined.
If you're in the capital class, you're getting your income from the assets you own. If you're in the working class, you're getting your income from working.
I've heard multiple definitions for a middle class, eiher one that owns some capital in the form of rental apartments or stocks, or that the middle class has a decenr amount of discretionary income.
Personally I don't think the middle class is that useful of a term to make sense of the economy. I also have a feeling that people like the term middle class because it muddies the waters when it comes to understanding the relationship between capital and labor.
Middle class doesn’t necessarily mean average or median class, but rather some life style bar where you aren’t struggling even if you can’t afford many luxuries. In India, for example, the middle class is small (definitely not average!) but growing.
Having a college education could totally be an indicator for middle class even if most people didn’t have one.