Middle class: The socio-economic stabilizer of the country development

Abstract

The article discusses the middle class impact on social and economic development of the society. It considers the modern middle class structure and functions both in social and economic fields of society life. Based on the data of international financial institutions, it analyzes the amount of middle class in the regions with the comparison of economic development of the country to discover the correlation between factors mentioned above. We have established that middle class impact on social and economic development of any country is huge and appeared in a number of factors. In addition, some of them have a direct influence on society development (economic indicators, standards of living, level of wages, etc.) while others have relative impact (middle class expenditures). In whole, middle class impact on social and economic development of the society in a country proceeds by stabilizing function of middle class, which is reached by implementation of little functional effects. Some of them have only economic influence, others have social impact. However, despite of the fact that they are applied separately, their close relationship forms the major indicators of middle class impact on socio-economic development of the society.