by ralfy » Sun 24 Sep 2017, 01:37:16
$this->bbcode_second_pass_quote('vtsnowedin', 'B')rought over from another thread as suggested.
This "relatively few" people keep talking about. Dose that include the 330 million Americans that have a median household income over $50K? How about the millions in the EU? Japan? China? I'm a very average American and I wouldn't consider myself a slave or even an economic slave. The poor third world is poor most often because they have socialist and dictatorial governments and economies.
According to this article, more than 60 percent of people worldwide earn only around $2 a day:
http://www.bbc.com/news/magazine-17512040From this other site:
http://www.globalrichlist.com/We gather that around 20 pct of the world's population earn $10 or more daily.
One source in this article points out that by 2020 at least three billion people will belong to the middle class:
http://www.bbc.com/news/business-22956470or around 40 percent of the world's population.
Another source from the same article defines a member of the middle class as someone who earns more than $10 a day.
The problem with this definition is that $10 daily will likely cover only basic needs and not middle class conveniences, like the ones mentioned in the article (such as cars and refrigerators). Of course, if people buy on credit and layaway plans (which is what happened in the U.S. in the past, where factory workers could buy Model Ts), then it's possible for such a class to grow to such a level even with lower pay.
If we remove the passenger vehicles (i.e., assuming that most banks will not extend credit to someone who earns only around $10 daily) and stick to figuring out what will be enough to cover necessities such as rent of furnished places (i.e, with necessities like refrigerators) as well as expenses such as insurance, then we will have to figure out how much a person should make in order to pay for these things. One source argues a family (of five) living wage should be at least $20 a day.
Following that amount, the second site estimates that around 12 percent of people worldwide earn that or more. This might explain what "relatively few" means, although the number might be higher.
Finally, I'd to add that interestingly enough, several of the economies that have been doing better in Asia during the past few decades are socialist dictatorships. These include Vietnam, and China. Others, like Singapore, Japan, South Korea, Taiwan, and Malaysia, have partially authoritarian (or even socialist) regimes and centralized economies with export-oriented industries. And some of those that did poorly include neoliberal economies like those of the Philippines.