Middle class

The middle class refers to a class of people in the middle of a social hierarchy, often defined by occupation, income, education, or social status. The term has historically been associated with modernity, capitalism and political debate. Common definitions for the middle class range from the middle fifth of individuals on a nation's income ladder, to everyone but the poorest and wealthiest 20%. Theories like "Paradox of Interest" use decile groups and wealth distribution data to determine the size and wealth share of the middle class. There has been significant global middle-class growth over time. In February 2009, The Economist asserted that over half of the world's population belonged to the middle class, as a result of rapid growth in emerging countries. It characterized the middle class as having a reasonable amount of discretionary income and defined it as beginning at the point where people have roughly a third of their income left for discretionary spending after paying for basic food and shelter. The term "middle class" is first attested in James Bradshaw's 1745 pamphlet Scheme to prevent running Irish Wools to France. Another phrase used in early modern Europe was "the middling sort". The term "middle class" has had several, sometimes contradictory, meanings. Friedrich Engels saw the category as an intermediate social class between the nobility and the peasantry in late-feudalist society. While the nobility owned much of the countryside, and the peasantry worked it, a new bourgeoisie (literally "town-dwellers") arose around mercantile functions in the city. In France, the middle classes helped drive the French Revolution. This "middle class" eventually overthrew the ruling monarchists of feudal society, thus becoming the new ruling class or bourgeoisie in the new capitalist-dominated societies. The modern usage of the term "middle-class", however, dates to the 1913 UK Registrar-General's report, in which the statistician T.H.C. Stevenson identified the middle class as those falling between the upper-class and the working-class.