I wonder if having a poorer middle class is somewhat offset by having a larger one as we see in the emerging market countries? The tougher impact will be in developed countries but the favt that most of the world’s population isn’t there may lead for bright spot overall.
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Quite possibly, also if we can sort out some sort of basic income, this should just mean more leisure time for a more educated middle class.
But I seem to remember hearing that argument somewhere before....!