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Extreme poverty is rapidly declining, thus, there's an upcoming consumer market (it translates to a more consuming class who can make significant discretionary purchases, such as leisure activities).
The public servants, or babus, were a governing class, not a consuming class; there was, in any case, scarcely anything to consume, since import and license restrictions ensured that all but the jet-setters had to content themselves with an extremely limited range of generally rather shoddy domestic merchandise.
The consuming class is attracting Western shopkeepers.
Shortening the work week was one way of turning the working class into the consuming class.
[The rioters were] a consuming class who haven't got any money, so of course they're going to nick stuff.
But other, more permanent, shifts especially the growth of a consuming class in emerging markets—augur well.
Similar(36)
The easing of sanctions on Myanmar in 2012 has led to trade liberalization which is being lauded at every turn by foreign leaders and CEOs who view the Burmese population of roughly 50 million, the vast majority of whom are yet to enter the consuming classes, as a potential gold mine.
But America has finally, belatedly, woken up to the fact there is a vast, stable country to its south as well as its north; a country, moreover, with a fast-growing and voraciously consuming middle class that seems to offer salvation to American businesses struggling in a moribund domestic market.
China's industrial development has created a seemingly insatiable appetite for Australian minerals and fuels, while the rise of the region's consuming middle class has created new and growing markets for its agri- and foods businesses beyond Japan.
Expanding union membership will be one of the surest signposts on the road back to a vibrant, consuming middle class, more income equality, and fairness in employment.
It's no easy task: Rich nations have been doing it since the Industrial Revolution 150 years ago, and developing nations — eager to lift their poor populations into a more prosperous (and consuming) middle class — rely heavily on cheap sources of coal and natural gas.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com