The term often implies a certain elitism and may carry a negative connotation when used by those outside of this group. Politicians sometimes dismiss criticism by referring to the complaints of the chattering classes.
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Social Context
This phrase is often used to describe people who are perceived as having more influence than others due to their social status or education. The chattering classes can sway public opinion with their debates on social media.
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Not Literal
Chattering doesn't just mean talking; it suggests ongoing, lively discussion or debate, often without a clear conclusion. At the dinner party, the chattering classes went back and forth about the election results.