What caused the growth of a middle class in Latin America?

What caused the growth of a middle class in Latin America? factory jobs, technology.

Why is the middle class important to the economy?

Politicians typically see the middle class as something to create with the gains of economic growth. A strong middle class provides a stable consumer base that drives productive investment. Beyond that, a strong middle class is a key factor in encouraging other national and societal conditions that lead to growth.

Is there a middle class in Latin America?

Almost one third of Latin American families are now considered to be middle class, a development that has also helped shrink the region’s share of the poor to almost the exact same proportion (or 30\% of the population), experts say in a new study.

Is Latin America’s economy stuck in the middle-income trap?

Many of Latin America’s largest economies are stuck in the so-called “middle-income trap,” with slowing productivity growth making it unlikely that they will catch up to the top global economies in the near term.

Is the gap between rich and poor in Latin America widening?

In many Latin American countries, the gap is widening. Some solutions have been proposed for this problem. As you’ve learned in this unit, the income gap in Latin America has many causes, some of which reflect the impact of colonialism in the region.

What are the basic skills the poor lack in Latin America?

A freemarket economy offers many people the freedom and rewards they need to create wealth. However, in Latin America the poor often lack the basic skills that would make taking part in the economy possible. Often, the poor have little education. Many cannot read. Most cannot find jobs.

Are the doors to economic equality shut to Latin America’s poor?

To the poor of Latin America, the doors to economic equality appear shut. Poverty can make people desperate. Those who think they have nothing to lose are sometimes willing to take great risks.