The end of Middle Class is coming
By Albere Correa aka (pseudo name Our Economist)
The end of Middle Class is coming. Many of you who have followed me during the struggle under the pseudo name (Our Economist) and listened to my contributions online. I know I teach on this exact thing. I’ve been teaching on it since The Jammeh days, when the concerns were raised. Now Gambian people don’t panic. Good news!
The trends shows that exact thing:
While households of lower class/under preldged families are projected to reach majority status in the near future, if the wealth divide is left unaddressed, median Poor household wealth is on a path to hit zero soon and median Middle class household wealth is projected to hit zero sooner. In sharp contrast, median Well-to-do household wealth would continue climb up.
If current trends continue the way things are, all things being equal, median underprivileged and Middle class households in The Gambia stand to lose nearly by slight percentage margins of the wealth they held in under Jammeh, respectively, while median Well-to-do household wealth would increase slightly. At that point–just a few years from now– the well-to-do households in The Gambia are projected to own the entire resources of The Gambia more wealth than low households and more wealth than Middle lass households.
Poor AND Struggling households are in a state of crisis now. We can’t wait another 10 years to change our financial narrative as it relates to generating legacy wealth.
Most of The Gambia workers generates wealth through “Dogo Dogo” and self centered operations, while the foreigners continue to milk the economy, thus controlling the direction of policy, politics and economic development of The Gambia. Where do you think our focus should be? Owning local businesses in The Gambia or allowing foreioto control our state affairs?
Owning and controlling the business sector is hard but so is being generationally poor and broke and mortgaging our started and economic affairs to foreigners and well-to-do households in The Gambia.
Join The Conversation