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middle class

The High-Risk, Low-Risk Scenarios for Russia’s Economic Future

Birgit Hansl's picture
Also available in: Русский

I discussed our most recent Russia growth outlook at a roundtable at the Higher School of Economics Conference on Apr. 2 with a number of Russian and international experts. This conference is one of the most important and prestigious economic conferences in Russia, and traditionally, the World Bank co-sponsors it as part of its outreach to other stakeholders.

 

The room was packed...

Longreads: Rise of Middle Class Jobs, ‘Real’ Birth of the Solar Industry, Ecosystem Modeling, Stranded on the Roof of the World

Donna Barne's picture

Find a good longread on development? Tweet it to @worldbank with the hashtag #longreads.

 

LongreadsMiddle class gained on Twitter, with many people taking note of Thomas Friedman’s The Virtual Middle Class Rises. Friedman’s op-ed is about how cheaper computing is enabling people who earn only a few dollars a day to access the “kind of technologies and learning previously associated solely with the middle class.” Such access is driving social change and social protest, he says. It’s a trend also observed by sociologist and author Saskia Sassen in an interview with The Hindu, Why the Middle Class is Revolting, though Sassen’s vision is more pessimistic. Another trend—a  sharp, decade-long rise in “middle class” jobs in developing countries—is enlarging the middle class in the developing world and promises ultimately to drive global growth, says the International Labour Organization in a new study.  ILO says nearly 1.1 billion workers (42%) earn between $4 and $13 a day, which is middle class wages in the developing world.  The number of middle class workers in developing countries is expected to grow by 390 million to reach 51.9% by 2017.  The report notes, however, that “progress in poverty reduction has slowed” and the number of “near poor” is growing. Also check out the Guardian’s datablog on the report.

Workers by economic class, 1991-2011, developing world
Source: International Labour Organization

Longreads: Future Foods, Car Index, Mexico's Middle Class, Gen U and Africa's Era of Unemployment

Donna Barne's picture

Find a good longread on development? Tweet it to @worldbank with the hashtag #longreads.

 

Amid Olympics chatter, concern continues to grow over extreme weather and rising food prices, with many tweeting this week about IRIN’s “Food: Price Shock Hotspots.” BBC News Magazine  looks at possible future climate-friendly food stuffs —including insects, lab-grown meat, and algae—in “Future Foods: What Will We Be Eating in 20 Year’s Time?” Demand for protein is expected to expand along with the global middle class—which may be as large as 600 million people in G20 developing countries, according to a Carnegie Endowment paper, "In Search of the Global Middle Class." Authors Uri Dadush and Shimelse Ali argue their "Car Index" of the number of cars in circulation provides "a relatively good measure of the number of middle-class households." A  BRIC economy is the subject of the Washington Post’s "Returning Migrants Boost Mexico’s Middle Class" -- a look at how immigrants’ savings are being used back home. In Africa, progress could be hampered by jobless growth and growing numbers of jobless young people, according to "Generation U – Africa’s Era of Unemployment."