Latin America's Emerging Middle Classes

What does it mean to be middle-class in Latin America? How is the middle class changing? What are the implications for economic development? Many look to the emergence of a middle class as a sign of Latin America's success in reducing poverty and inequality, a claim this book confirms. Political and business leaders hope that a booming middle class will drive economic growth and support progressive but not revolutionary political platforms, lending economic and democratic stability to countries long wracked by volatility. The contributors document the remarkable emergence of this middle group in Latin America (whose measurement turns out not to be an easy task). However, the authors consider it premature to declare middle-class Latin Americans ready to serve as a motor for economic growth or guarantors of democratic consolidation. Smart policies can nevertheless protect middle classes from poverty and allow them to fulfil the hopes invested in them.