The research classifies middle class people as people with discretionary income to spend on large consumer items such as refrigerators, washing machines or motorcycles, if they pay for entertainment, if they go on family holidays and if they have enough resources to withstand an economic shock, like illness.
By this measure, 3.6 billion people are middle class.
By contrast, 3.1 billion people are economically vulnerable (living on $1.90 to $11 a day) and another 630 million are poor (living on under $1.90 a day).
200 million people are rich, defined as living on $110 a day or more..
The researchers found that one person escapes extreme poverty every second, and five people a second are becoming middle class.
By 2030, the researchers forecast that the number classed as rich will have grown to 300 million and the middle class will have expanded by 1.7 billion to 5.3 billion people.
The number who are financially insecure or vulnerable will have shrunk to 2.3 billion and those in extreme poverty will have shrunk to 450 million
.
Asia accounts for the improvement in living standards with nine out of ten of the new middle-class consumers predicted to be in China, India and south and east Asia.
“We are living through a landmark moment in human history: the first time since agricultural civilisation began when the majority of the world’s population does not live in considerable poverty,” says Kristofer Hamel, COO of World Data Lab, “while spending $11 a day or more may not seem like much to those who live in developed economies, crossing this threshold often constitutes the beginning of basic middle-class behaviour and lifestyle — having a basic standard of sanitation and healthcare, decent housing and the possibility of improved educational outcomes.”
eugene on Thu, 4th Oct 2018 11:49 am
More than $11 a day puts a person in middle class able to afford vacations, washing machine, etc.? I think the researchers need to go where ever and live on that for a yr. I have a hunch figures would change. I see this all the time. Some “expert” sitting in an office tower deciding things about people they’ve never met nor will they.
I really want to know where $360 a month allows food, housing, medical care, etc at an adequate level let alone a refrigerator, washing machine and a motorcycle. What pit do researchers like his crawl out of?
Cloggie on Thu, 4th Oct 2018 12:03 pm
“Half Humanity Is Middle Class”
It’s not easy to be a collapsenik these days.
You really need staying power.
But I’m told by millimob that peak oil is just around the corner, so there is still hope.
dave thompson on Thu, 4th Oct 2018 12:04 pm
Capitalism is seen as the be all and end all of human needs. If capitalism was rated like a fifth grade math test or a college entrance exam, it might get 50% right. Try getting to the sixth grade or into Yale with 50% correct on your testing.
onlooker on Thu, 4th Oct 2018 12:28 pm
And all of Humanity, is up shit’s creek without a paddle.
bob on Thu, 4th Oct 2018 3:30 pm
In the US we are killing all the little animals among us. Hurricanes and fires are destroying the country. Red Tide is sweeping over Florida. Dead Zones in the Gulf are the size of Alabama. 70000 people a year are overdosing on drugs. 45000 a year die in car wrecks. Smartphones are making us dumber. And this article is telling us everyone is going to be rich and live in Nirvana? Please….
Donad J Chump on Thu, 4th Oct 2018 4:03 pm
All is well.
Nothing to see here.
Everything is awesome!
Keep calm and carry on.
Well, now that is cleared up, I guess Peak Oil has been solved and we can go back to TV, football, and conspicuous consumption.
YAY!
makati1 on Thu, 4th Oct 2018 8:22 pm
Eugene, $11 per day, per person, would let you live quite a ‘middle class’ in the Philippines. That equates to about P18,000 at today’s exchange rate. Two people can easily live a middle class lifestyle in Makati on that amount. I did it for almost 10 years. A/C, internet/cable, ref, all electric kitchen, etc. All the ‘modern’ appliances/conveniences and a nice food and clothing budget with a few restaurant outings on special occasions.
I moved to the countryside and now have an even lower budget and all the same conveniences. But I do not pay $15 for a haircut ($2) or $50 for a doctor visit ($12) or $1,200 for a tooth crown($120). Those were the prices I paid 10 years ago in the Philly burbs. They are probably higher now. Americans have no idea how the rest of the world lives. LOL
boney joe on Fri, 5th Oct 2018 6:09 am
From an earlier post…..
“the gutting of the rule of law and the constitution by the extremist liberal left.”
Evidence? None cited.
“The Clinton/Obama corruption of the highest office and the election process is the climax of this vortex of corruption.”
Evidence for this nonsensical fantasy? None cited.
” The corrupt fifth column of the FBI/CIA/NSA driven significantly now by the extremist liberal left sealing in the de facto power of a group above the rule of law as specified by the constitution.”
Evidence of a Fifth Column?
“The wealthy, privileged, and connected liberal left in control of the media, tech giants, and academia/science spreading their corrupted message at the very heart of what should be above politics.”
Really?
Of the 257 news/talk stations, 91 percent of the total weekday talk radio programming is conservative, and 9 percent is progressive.
Each weekday, 2,570 hours and 15 minutes of conservative talk are broadcast on these stations compared to 254 hours of progressive talk—10 times as much conservative talk as progressive talk.
A separate analysis of all of the news/talk stations in the top 10 radio markets reveals that 76 percent of the programming in these markets is conservative and 24 percent is progressive, although programming is more balanced in markets such as New York and Chicago.
As for TV, Sinclair Broadcast Group — a conservative, Trump-friendly television empire — closed a deal that allows it to reach nearly three-quarters of American households. Sinclair purchased Tribune Media Company and its 42 television stations for $3.9 billion — a merger made possible by the Trump administration relaxing regulations on broadcast ownership.
Then the right-wing One America News Network owned by the right-wing Herring Family Trust started broadcasting and now reaches 78% of all American households.
Last but not least, the “fair and balanced” network known as Fox Noise.
But according to DavyTurd, “the wealthy, privileged, and connected liberal left control the media, spreading their corrupted message is at the very heart of what should be above politics”, excluding radio and television of course.
“I am a moderate liberal ”
And I am the walrus. Been hittin’ the CoCoa Puffs too hard.
Davy on Fri, 5th Oct 2018 6:29 am
From an earlier post…..to sloppy joe’s earlier post
Lol, here is the substance of sloppy joes comment:
“Evidence? None cited.
Evidence for this nonsensical fantasy? None cited.
Evidence of a Fifth Column?
Really?”
When someone has no argument they do the above
“Of the 257 news/talk stations, 91 percent of the total weekday talk radio programming is conservative, and 9 percent is progressive. Each weekday, 2,570 hours and 15 minutes of conservative talk are broadcast on these stations compared to 254 hours of progressive talk—10 times as much conservative talk as progressive talk. A separate analysis of all of the news/talk stations in the top 10 radio markets reveals that 76 percent of the programming in these markets is conservative and 24 percent is progressive, although programming is more balanced in markets such as New York and Chicago. As for TV, Sinclair Broadcast Group — a conservative, Trump-friendly television empire — closed a deal that allows it to reach nearly three-quarters of American households. Sinclair purchased Tribune Media Company and its 42 television stations for $3.9 billion — a merger made possible by the Trump administration relaxing regulations on broadcast ownership. Then the right-wing One America News Network owned by the right-wing Herring Family Trust started broadcasting and now reaches 78% of all American households.”
Where is your reference for all those unsupported facts sloppy joe?
“But according to DavyTurd, “the wealthy, privileged, and connected liberal left control the media, spreading their corrupted message is at the very heart of what should be above politics”, excluding radio and television of course.”
Amazon, Google, Twitter, and the MSM fake news are all significantly controlled by the extremist liberal left. Can you deny that sloppy joe?
Davy on Fri, 5th Oct 2018 6:53 am
“Not One Country” On Track To Limit Global Warming To 2°C”
https://tinyurl.com/y89odloo
“Consultancy giant PwC has published its latest Low Carbon Economy Index for 2018 which shows that not only are emissions on the rise again, but that there is not a single country achieving the necessary decarbonization rate to limit global warming to the necessary 2°C as laid out in the Paris Agreement.”
I AM THE MOB on Fri, 5th Oct 2018 7:27 am
Davy
You are a fucking moron who just got destroyed..And Ruppert Murdoch owns the largest newspaper in America that is conservative ie Wall Street Journal..And the largest cable news station faux news..
you are going really downhill fast..Nut job conspiracies and now this?
Get some help, if not for yourself do it for your familes sake
Davy on Fri, 5th Oct 2018 7:56 am
“Ruppert Murdoch owns the largest newspaper in America that is conservative ie Wall Street Journal.”
IM stupid, who owns Amazon, Google, Twitter, Apple, Microsoft and also fake news networks of CNN, MSNBC, MBC, CNBC….friggin on and on? You are a stupid extremist liberal snot who got his fake PHD on the internet. LOL. Go swap spit with sloppy joe and dumb hund and give us more of your unsupported slop to try to advance a failed extremist liberal agenda.
I AM THE MOB on Fri, 5th Oct 2018 8:15 am
Davy
Those tech companies aren’t media companies..They have no control over what is shared..You are arguing a false equivalency..
And its very ironic someone who shares non stop zerohedge articles would squeal about fake news..
I don’t think you are intelligent and sophisticated enough to know what is false news.
fake news sharing in us is a right wing thing, says oxford study
https://www.theguardian.com/technology/2018/feb/06/sharing-fake-news-us-rightwing-study-trump-university-of-oxford
Stick to what you do best Davy, sucking off mommy’s teet.
Davy on Fri, 5th Oct 2018 9:13 am
What a dumbass, aren’t “media companies.” This just shows how unintelligent you are. Low life liberal snot nose kid, where did I talk about “media companies”? I didn’t you did. I am talking about knowledge, information, and communication companies. I am talking about all of the above that is essential for control of the public domain. Your dumbass internet PHD did go that deep did it? Go back to peddling phones for att. That is about your speed.
boney joe on Fri, 5th Oct 2018 10:50 am
I AM THE MOB:
Bea-u-ti-ful work shut downing the sites most reliable and consistent liar and hypocrite.
Cha ching 🙂 🙂
Anonymouse1 on Fri, 5th Oct 2018 12:57 pm
Did the eceptionaltrud just get owned by his own sock puppet? (again). Sure he did. Even his fake sock puppet accounts know the turd is a complete dumbass.