Growing Middle Class in Mexico
June 8, 2011 § Leave a comment
From The Catalyst:
Latin America is not currently a middle class place; the average size of the middle class for the Latin American region is 36.%, data from 2005. But Mexico, along with only three other Latin American economies has a large middle class. According to Cárdenas, Kharas and Henao from Brookings Institution, Mexico is and will be even more, a middle class country.
“The implications of this description for investment and policy decisions are important. A buoyant middle class represents not only a link between it and the economic effects of consumption and growth. Middle class also focus its importance on values typically associated with this socioeconomic group, such as democratic attitudes, entrepreneurship, hard work and the importance of education. According to the Brookings study, these values, it is often argued, are crucial for the development process.”
For more an even more in depth view of this conversation that has been going on for years now, visit http://www.businessweek.com/magazine/content/06_11/b3975071.htm.