Forward Thinking

Forward Thinking on the existential issues facing the middle classes in every country with Homi Kharas

Oct 11, 2023

41:41:21

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Homi Kharas, senior fellow at Brookings Institution, discusses the changing character of the world's middle class and its impact on shaping the world. He also explores the implications of becoming middle class, the role of the middle class in climate change, and the potential effects of AI on this socio-economic group.

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Quick takeaways

The expansion of the middle class globally is driven by technology, politics, and globalization, with technology creating a demand for a healthy and educated population and politics supporting and benefiting the middle class.

The middle class shapes our world not only through politics but also through its influence on the business sector, media, and government, pushing for corporate sustainability, elevating issues through viral trends, and driving collective action on global challenges.

Deep dives

The Growth of the Global Middle Class: A Result of Technology and Politics

The expansion of the middle class globally has been driven by technology and politics. Technological advancements, such as those seen during the Industrial Revolution, created a demand for a healthy and educated population, resulting in a rise in wages and the emergence of the middle class. Politics, including democratization and labor unions, have also played a role in supporting and benefiting the middle class. Additionally, globalization has accelerated the speed of middle class expansion, with large countries in East Asia and South Asia driving the growth.

Introduction

2min

The Impact of Globalization on the Growth of the Middle Class

13min

Measuring Living Standards and Adjusting Data

2min

Mitigating Environmental Impact of Global Middle Class Consumption

11min

The Impact of Technological Change on the Middle Class and Job Prospects

9min

Pessimism, Optimism, and the Power of the Middle Class

4min

Co-host Janet Bush talks with Homi Kharas. Kharas is a senior fellow in the Center for Sustainable Development at the Brookings Institution and also cofounder of World Data Lab. He studies policies and trends influencing developing countries, the emergence of the world's middle class, and global governance. He's collaborated with the McKinsey Global Institute on research into consumers in emerging markets and economic empowerment, and his latest book is The Rise of the Global Middle Class: How the Search for the Good Life Can Change The World.

In this podcast, he covers topics including the following:

How the character of the world’s middle classes is changing
How the middle classes shape our world
What becoming middle class means for a household
The role of the middle class in climate change
How AI may affect the middle class

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