Half the world is middle class?

family on scooter

This week we’re reading Gordon’s description of the skyrocketing standards of living in the 20th century. Here’s a rosy view of things moving forward, reported in the Washington Post, “By 2020, more than half of the world’s population will be ‘middle class,’ according to Brookings Institution scholar Homi Kharas. Kharas defines the middle class as people who have enough money to cover basics needs, such as food, clothing and shelter, and still have enough left over for a few luxuries, such as fancy food, a television, a motorbike, home improvements or higher education.”