5 ms·
yes, middle class is typically just well-off working class, but with some investments or savings that generate profit for them. I think technically, middle clas
by beaconstudios 5y ago
yes, middle class is typically just well-off working class, but with some investments or savings that generate profit for them. I think technically, middle class is associated with small business owners and the self-employed who both own capital, and labour - but people with moderate investments who still work are also receiving capital gains; they're just not capitalist class because they still have to labour to survive.
- nverno 5y agohere, when you say 'labour', you are referring specifically to working for wages then? Cause I imagine many investors/owners who make money from profit or capital still need to work, or labor, quite a lot. It sounds like basically the working class are people with bosses that aren't a board of directors.
- beaconstudios 5y agowell, "working class" is a Marxist term and thus is defined relative to ownership of capital (means of production and the ability to acquire it). Practically everybody (in the economy) works, including capitalists; the division is whether you have to exchange your labour for your income by working for somebody else, or your income is from owning stuff (even if you're working on that stuff, like a founder owning and developing their software). Historically the "capital" would have been machinery or land, nowadays it's more ephemeral as the economy is increasingly financialised, virtualised and service-oriented.