The Evolution of Middle Class Affluence: What the Rich Had 2 Decades Ago But Now Even the Middle Class Owns
In the early 2000s, the economic landscape was quite different from what it is today. While the middle class had significantly more disposable income, the modern conveniences we take for granted were not widespread. Now, many of these items, once reserved for the wealthy, are commonplace in even the most modest household. This article explores how the average middle-class family's purchasing power has evolved over the past two decades.
Higher Education and Access to Information
The cost of higher education has increased substantially over the years. A decade ago, even those with B. Tech degrees or similar qualifications found themselves in a more handsomely remunerated position. For instance, a B. Tech foreman could earn up to 18,000 rupees a month, with petrol at a meager 28 rupees per liter. Today, the going rate for the same job is 6,500 rupees a month, despite a 100 rupees per liter petrol price and an additional 2 hours of work.
Clearly, the financial environment has changed, making higher education a more accessible option.
Practical Appliances and Devices
For many middle-class families, the following items were staples that only the upper classes could afford:
Microwave Oven
Today, the microwave oven is a common fixture in most middle-class households. However, two decades ago, this appliance was beyond the reach of the average person. The price of a microwave was around 350-450 rupees, a significant sum at a time when per capita GDP was 443 rupees. Thus, it remained a luxury item.
Water Purifier
The importance of a water purifier is evident, but it was not a common household appliance 20 years ago. People relied on government tap water for drinking, a situation that has improved with increased awareness and economic growth.
Reasons: Consumer habits, lesser pollution, and potentially higher prices.
Power Inverter
In the early 2000s, power inverters were not widely available in the market, leading to their limited use among the middle class despite occasional power outages. The primary reasons were:
Reasons: Lack of availability and high prices.
Western Toilet Seats
The comfort and convenience of a modern toilet seat, which is synonymous with a Western toilet, were seen as luxuries in the past. Consumer habits played a significant role in the limited adoption.
Reasons: Consumer habits.
Modern Technology in Everyday Life
The iPhone, introduced in 2007, was a landmark innovation. Two decades ago, most middle-class cellphones were simple devices for sending and receiving calls. Today, smartphones have taken over, offering capabilities far beyond those of traditional cellphones. The stark contrast shows how technology has transformed everyday life.
The past two decades have seen a monumental shift in the purchasing power and lifestyle of the middle class. While the wealthy may have had certain advantages, even the most modest household now enjoys access to technologies and appliances that were once solely within the reach of the upper class.