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Middle class

The middle class is a class of people in the middle of a social hierarchy. In Weberian socio-economic terms, the middle class is the broad group of people in contemporary society who fall socio-economically between the working class and upper class. The common measures of what constitutes middle class vary significantly among cultures. One of the narrowest definitions limits it to those in the middle fifth of the nation's income ladder. A wider characterization includes everyone but the poorest 20% and the wealthiest 20%.

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Why your middle-class salary is better than you might think

This Washington Post article proposes a fascinating hypothesis: the middle class salary statistics that so many scrutinize do not factor in the opportunity cost of technology. So technically, the middle class earns more or at least lives better than we think. Maybe middle class salary doesn't factor in the benefits of technology, but there are also many more costs that the middle class needs to afford: college tuition as a higher education degree becomes more and more necessary to get a white collar job, bills that accompany costs of new technology, etc. We don't see people foregoing smartphones or Internet bills in order to save for college. Why? These technologies have become near-necessities now.

Contributed by Lucy Zhang

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