[emerod]

One useful economic definition of middle class is obtained by applying Frederick Strobel's distinction between those who are labor-dependent those who are capital-enhanced.

The middle class are the ones who fluctuate between the two categories: They have to keep working, but as long as they do, they have some surplus income. If they spend too much and go into debt, their surplus income goes away, and they have to work more.

This is useful because it explains how some can consider themselves to be "working class" or "middle class" and yet have income that is both above average and above median. They still have working class (or middle class) anxieties, mostly because of their local economy or their bad spending habits.