We are witnessing a decline in the great American middle class while emerging economies such as India and China are seeing the creation of a rising middle class. Our middle class was created and sustained by a growing economy and increasing wages the growth provided. Increases in wages have declined rapidly since 2000 due to a slowing economy and its resulting drop in demand for new labor. India and China, along with other growing economies, are seeing a middle class develop where none existed before.
If we are to revive our middle class, we must return to a healthy growth in our economy.
Submitted by Virtual Newsroom