What is also worth mentioning in a research paper on population explosion that, according to demographers, there were more than 13 billion self-millionaires in the US in the 2010-s. These figures are very close to the results of the population explosion which occurred in the following decade. The characteristics of the explosion are sufficiently diverse. It may be an understatement to say that, in 2010, the population of the United States exceeded one of the highest projected figures of the maximum population growth rate in the world.
There were more than 1.5 billion high-level social mobility winners. And it is easy to reach them not only in the middle class but also in the upper class of the United States.
Let’s take a closer look at this phenomenon more closely. The term “middle class” means a part of society that occupies the status positions between the top of the economic ladder and the bottom. Through its maintenance, widening and strengthening, the state can prevent high income inequality.
There are several ways to prevent excessive strengthening of inequality: social mobility, moderation of income inequality, interest in the job search and share the benefits of this society, efforts to combat inequality by improving the material situation, social solidarity.
So, it may be stated in the essay on economic growth and income inequality that, in the framework of any test of social mobility, the middle class plays a important role in the process of social mobility, is a stabilizer of social tension.
Protection of the middle class is a prerequisite for the successful implementation of the programs aimed at increasing the share of the population that belongs to the middle class. The minimum wage provides some of the highest income taxes in the United States. The taxes of the middle class are used to cover the expenses of the working family (around $500 billion in 2010).
In the public sector, the middle class is protected from depression of wages, but only in the collective sphere. Working within the middle class, its financial position is much more vulnerable. In the national arena, the middle class is often involved in the problem of excessive income inequality, for example, in the industry, commerce, financial services, real estate, liquid assets.
In the distribution of income, the middle class is usually evenly distributed, but not always (in the modern US, the upper and middle classes constitute a separate stratum, the values of the middle class are lower, and the job is performed by the first stratum).
The concentration of the middle class in the United States is quite high. Interestingly, the percentage of citizens employed in the labor market is lower than the number agricultural workers, but the share of urban labor is much higher. The urban labor is oriented by the needs of the overall economy, demands in the real environment of which are dictated by the level of the social and professional activity of the population.
The middle class is characterized by high heterogeneity and even ambiguity in many objective and subjective criteria. This prevents the understanding of the common interests of representatives of the middle class.
It’s important to mention in income inequality paper that the presence of the middle class provides stability and dynamic economic development. As a basic social group, it performs a number of very important social functions. The function of the social stabilizer is the basic among them: having achieved a certain place in the social structure, the representatives of middle class are inclined to support the existing state order that enabled them to reach their position.
The main social movements occur both within the middle class and with participation of other elements of the social structure. Free channels of upward vertical mobility, clear prospects for social growth based on education and high qualifications should ensure a sufficient level of welfare for the middle class.
It also should be noted in essays on social inequality that, in addition to the stabilizing function, the middle class plays an important role in other social processes. In the sphere of economic relations, representatives of the middle class are quite active, and influence on economic activity is not usually acknowledged. However, in the sphere of social relations, they are practically not passive.
It should be recognized in essays on income inequality that, in addition to the stabilizing function, the middle class plays an important role in other social processes. In the sphere of political institutions, it is the most important tool for application of the ruling elite and shaping a viable political alternative.
In the culture of social communication, the middle class is one of the most important tools for achieving the life of the individual, represents a society of which elements are able to exist simultaneously without any external mediation. In Europe, the ideals of humanism were placed above material practice, and life success was determined by many parameters. America narrowed the idea of success to one component in a concrete, tangible form, and happiness was determined by the number of banknotes. The dream of success was embodied, as Tocqueville said, in the romance of figures which have an irresistible charm. The cult of wealth has become almost religious. It was a special form of idealism.