A Bigger Global Middle Class
I was reading an article in The Economist Magazine about India's Middle Class. It says that Big companies are disappointed at the size and consumption habits of this Indian middle class. It seems over there, inequality is on the rise, and therefore most of the gains are going to the top so-called one percenters. Hence not much is trickling down to the middle class which in turn can't afford to consume as much as the world's large companies expect of them. Inequality has been a significant topic in recent years. It has been given more impetus with Economists like Thomas Piketty, Paul Krugman, Joseph Stiglitz and Robert Gordon. And the statistics seem to prove them right. When we look at the world's global Gross Domestic Product, this figure is about 78 trillion US dollars. If divided equally among people this translates to 10,000 USD per person. However, nearly a half of the global population lives on 2.5 dollars a day. These people living on less than a thousand do