The developed countries are trying to grapple with many problems and a major one is the decline of the middle class. The reasons are :-
1. The Capitalist system is not geared to the preservation of any particular class. The company owners are not interested in the steady middle class contribution. They are interested in profits and that means lowering costs. For instance many safe jobs such as bank managers have been shelved to save on wages. Any difficult problems are dealt with by…