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The working class is regarded as the section of society for and about whom folk music arose.
Another short-lived US group (1948-52) who came after The Almanac Singers and Peter, Paul & Mary and Dylan. They fell foul of the blacklisting of artists deemed to be communist sympathisers, to produce work of traditional, often rural historical importance, blues/gospel/labor songs, to record and sing the heritage.
Almost every country on earth has its own folk music tradition, many of which do not employ the acoustic guitar. Any celebration of global music (Europe, US, Canada, S America, Africa, mid East, far East, Russia, India, Philippines...) would display the same sorts of cultural, historical, social, political, economic and psychological traits as anywhere else. It derives from people living life.
Womad - World of Music, Arts and Dance is an internationally established Festival which brings artist together in different locations, engages in educational projects and celebrates multiculturalism in the arts.
Peter Gabriel, as a founder said: “audiences gain insight into cultures other than their own”. That folk music with all its derivatives plays its part in world music, is a given nowadays.