Hello
As someone with 0 economics knowledge but keen interest I keep hearing this term “middle class trap” and how it is bad for countries long term economy and its people. What does it mean and why is it harmful for a country’s long term prospects ?
Thank you
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On the other hand , the middle class trap might refer to people over extending themselves to buy the trappings of middle class life: big house, expensive cars , nice vacations only to be in so much debt that they are living hand to mouth and are one medical emergency away from bankruptcy I have heard of couples making 300k + who are struggling to pay the bills
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