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Answer:
Middle class
Explanation:
About 70% of all Americans consider themselves middle class. In reality however, the number is down to 50% and going down farther every year.
The belonging to middle class is measured based on income level, there are, however, many different factors that determine it farther: the level of education, access to private healthcare, employment situation, living in a specific neighborhood, cultural activities.
Middle class is slowly disappearing as the wage gap between high and low earners is getting wider. The are far more poor people than before, while the richness is in the hands of few only: big cooperations or business tycoons. Therefore, if the trends continues, there would be lower and upper class only.
PRO An economy based on the relationship between supply and demand promotes healthy competition. Companies strive to offer better goods or services than other, similar companies. If one company offers more extensive goods and its profit margins increase, then that inspires its competitors to get innovative so that they can retain or gain some of that market. This lively symbiosis is the backbone of free enterprise, and is a huge positive. Consumers gain when companies compete to offer more products or services in varied, often more efficient ways. Consider how the shopping industry drastically changed during the last 10 years with Amazon able to ship products directly to consumers, saving them money and time spent driving to a “big box” store.
CON That potential for profit is as alluring as it is dangerous. In order to maximize the highest profit margin, potential companies often resort to unethical or even illegal behavior. The 2010 Deepwater Horizon oil spill is arguably a symptom of such a mindset, because of rushing, that oil company caused a horrific natural disaster. Such behavior is detrimental to its employees, because a company is not paying attention to, safety protocols, for example. Rushing or not paying attention to safety protocols, can cause lives lost or at least caused sickness and injury. Free enterprise suffers when companies go completely unchecked and foster corrupt competition.
Disadvantage to society of using authority
