Last week, 41 American companies received awards at a little noticed White House ceremony. Despite the recession, the companies – most of them small and medium-size businesses – have experienced rapid growth and handsome profits in recent years. And they’ve beaten Chinese, Indian and European competitors at their own game.
For two hundred years, the middle class has enjoyed legendary status in Western economic thought. First the British and then the American middle classes, Weber, Marx and many others said, served as vaunted engines of economic growth and political stability throughout the 19th and 20th centuries.