–“Curt: Can you clarify the difference between labor class and middle class please? Labor meaning manual labor and middle class meaning managerial class?”–
The terms vary in the English Speaking world. Example: Middle Class in UK = Upper Middle Class in USA.
So I use Paul Fussell’s (American) as a general rule: Class=What capital do you manage? (Responsibiilty)
Skills vs matter(working),
People-clerical(lower middle) …
Private Capital (middle, small biz),
Other’s capital (upper-middle, professional),
Lower upper (entrepreneurial, borrowed capital),
Middle-upper ( market capital),
Upper (pure capital),
Out of sight (intergenerational capital)
So this ‘system of measurement of classes’ is internationally commensurable regardless of local naming.
However in american common vernacular ‘middle class’ has meant ‘middle class lifestyle’ meaning you can own a home, a car, etc, and have some disposable income: Responsibility by DEBT not control.
Whereas the system of class measurement (definitions) I listed above, describes class as what responsibility you have in production.
This minor difference between production and debt tells you everything about financialization’s effect on class structures. 😉