What Happened To The Bhadralok Suggests That The Arrival Of New Consumers Of Culture, Drawn From The Rural Middle Class And The Unorganized Working-Class And Small Business People From The City Further Accentuated This Process: Whether This Has Led To A Proper Democratization Of Our Society Is, However, A Separate Question.
What do you want to do when you've finished? 11yo
In fact, the example of the last bubble is instructive. The housing boom created many high-paying jobs, a lot of them the kind you can do without a college degree. Unfortunately the demand for those houses, partly created by very low interest rates, was false. In the end, much economic damage was done by capital and labor being pulled into housing only to be unceremoniously dumped later.