posted
Mar 9, 2010 by News Gatherer
Now, with the Western middle classes sinking into debt and distress, many economists look to a new emerging-market middle class as the potential foundation for a new age of global safety and prosperity. With time and wealth, “they” would become just like “us.”. As China, Brazil, Russia, Turkey, India, Indonesia, and other large developing nations became more prosperous, it was always assumed that they would become more like the suburbs of Washington or Londonliberal, democratic, market-friendly bastions not only of Western-style consumerism but also of political liberty. They have also been the engines of economic growth, setting the stage centuries ago for the expansion of capitalism and global trade, and continuing through the ages to snap up every new gadget or service in sight. Aristotle believed they were democracy’s secret weaponthe protectors of social values, the moderators of political extremism, ramparts of reason over fiat, and believers in a society run by laws instead of by strongmen. The middle classes have always been the bulwark of society.