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                <term xml:lang="en">Political economy</term>
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              <p>Over the past decade, much of the global middle class has become more vulnerable and disillusioned. Drawing on original qualitative surveys in Brazil, C &amp;amp; ocirc;te d'Ivoire, Turkey, and Vietnam, this paper reveals a persistent disconnect between middle-class expectations and government policy in the core domains of the social contract: public services, social protection, and participation. On the demand side, middle-class respondents report frustration with poor service provision-particularly in education, health, and security-and with tax systems, they perceive as burdensome yet unreciprocated. On the supply side, policymakers emphasize market access and credit expansion while retreating from broad-based public support, a pattern we term "laissez-faire paternalism." Despite their dissatisfaction, middle-class citizens often remain politically disengaged due to fragmentation and institutional barriers, producing a form of "truncated citizenship" in which they enjoy consumption rights but lack political influence. These findings challenge the assumption that middle-class growth naturally drives reform. Instead, we find a fragmented and politically instrumentalized group with limited capacity to press for change. By contrasting demand- and supply-side perceptions, the paper uncovers institutional blind spots and warns of rising frustration and instability if governance does not become more inclusive and responsive.</p>
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