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Higher purchasing power per person not overall. That would increase the wealth inequality divide and the aging population would suffer as lower and middle class
by ehnto 3y ago
Higher purchasing power per person not overall. That would increase the wealth inequality divide and the aging population would suffer as lower and middle class services struggle in favour of high wealth services. We are seeing that in clothing at the moment, high end clothing is doing really well but serves fewer people.
Japan is a country to watch, it has an aging population but historically good support for middle class services through lots of small businesses. If that changes for them it is a bad sign for the West, as we generally have greater wealth divides to begin with.
- croes 3y agoI'm talking about workers, they are mostly middle and lower class. Your example of higher clothing, it's not the workers who do really well, it's the designers and labels. Wouldn't consider them as workers.