Capitalism is an economic system based on private ownership of the means of production and their operation for profit. Central characteristics of capitalism include capital accumulation, competitive markets, a price system, private property, and the recognition of property rights, voluntary exchange, and wage labor.
The middle class has an interesting relationship with capitalism.
Like an overwhelming number of Americans, I have spent my entire life in the middle class. As the son of an electrician and a nurse, my parents owned their own home, drove newer cars, pursued higher education, and ensured we wanted for little. We did not own the biggest house on the block. The cars were used. Our clothes were not name-brand, but we lived a better life than most.
As an adult living in Seattle, I still find myself renting, but drive a new car, I have two degrees, prize quality over quantity, and see an abundance of opportunities before me.
Holding our position on the economic ladder is sometimes a struggle. In this economy, I find myself unemployed and living with family while searching for a job. I am amassing debt, burning through my savings, and hope every day I can stay healthy since I am also uninsured. I know I am one catastrophic event away from true poverty. While my safety net is wide, I also know it is finite. Help and support from others will not last forever.
Below me on the economic ladder is a group of people who are aspiring to be in my position when I get back to some sense of normal. Above me on the economic ladder is a group of people who understand my struggle and, perhaps, once found themselves standing in my shoes.
The middle class is an American success story. It is one of our greatest exports. It is the opportunity that those “huddled masses” standing on our “teeming shores” dream of when they think of this country and all that it can provide. Yet, to belong to the middle class is to live a life where you can feel challenges squeezing you on all sides.
Maintaining is a daily struggle. Advancing every so slightly is the dream. Between here and there is a minefield of catastrophes attempting to blow us off course. To stand in the middle class is to understand this daily reality. We admire the rich and pity the poor. We understand wealth will likely never be a reality, but poverty lurks around every corner. Hard work may not protect us in a system where it can often seem as if the deck is stacked against you.
Yet, no system in the history of human civilization has done more to move people out of poverty. This reality begs a bigger question. Can the same system be used to keep them there? The answer to that question is beyond the scope of this series, but I would like to think so.
Be good to each other,
Nathan
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