”Middle-class life satisfaction rests on two pillars.
- Homi Kharas
The first is the idea that hard work and self-initiative will lead to prosperity.
The second is that thanks to this prosperity, the children of middle-class families will enjoy even more opportunities for the good life.
Both pillars are shaking.”
Joining the middle class has been a ticket to the good life for two centuries now, a history I trace in a new book “The Rise of the Global Middle Class.”
The American Dream, the glorious years of European reconstruction after World War II, miracle economic growth in Japan and other East Asian countries, Xi Jinping’s great rejuvenation of the Chinese nation, and…