Monday, August 01, 2011

This is very surprising, but also reassureing

Source: The Economist
The population of Indonesia is 246 million, so the graph above suggests that the middle class (defined as $3,000 annual household income) is some three-fifths of the total. I studied Indonesia in the early 1970s when the population was much smaller and the economy much poorer. In spite of all sorts of problems in the interim, Indonesia has had considerable economic success. The Economist attributes that success primarily to the development of natural resources for export markets. I can only hope that Indonesia takes advantage of the large middle class to develop its political and economic systems and to improve the quality of life for all.

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