13 February 2009

Emerging Market Middle ~ Billions of Bourgeoisie

Nice Economist special report on the Burgeoning Bourgeoisie ~ The New Middle Classes in Emerging Markets...
"...there is indeed something special about the contribution the middle classes make to economic development that goes beyond providing a market for Western consumer goods. The middle classes can, and sometimes do, play an important role in creating and sustaining democracy, though on their own they are not sufficient to create it, nor do they make it inevitable. On balance, the report is optimistic about the prospects of countries where the middle classes are growing. But they are not a homogeneous group, so their impact varies. A middle class that has grown largely to tend to the state will behave differently from one that is based on the private sector."

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