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Essay On Standard Of Living

902 Words4 Pages

Living standard figures a good deal in everyday thought. The idea is full of contrasts, conflicts, and even contradictions. Within the general notion of the living standard, different and rival views of the goodness of life co-exist in an unsorted bundle. There are many fundamentally different ways of seeing the quality of living, and quite a few of them have some immediate credibility.
Standard of living can be a touchy subject. Try to convince people that they’re better off than they think, and they’ll give you half a dozen reasons why they’re not. You could be well off, without being well. You could be well, without being able to lead the life you wanted. You could have got the life you wanted, without being happy. You could be happy, without having much freedom. You could have a good deal of freedom, without …show more content…

Economic growth may help to improve this situation. But human development is about much more. As the human development report 2001 asserts, development is about expanding the choices human beings have to lead lives that they value. The most direct and popular measures of living standards are income and consumption. In general terms, income refers to the earnings from productive activities and current transfers. It can be seen as comprising claims on goods and services by individuals or households.
Quality of life and standard of living are often used interchangeably. But in fact they are two different concepts that are not necessarily related. Standard of living is generally measured by levels of consumption and thus, by levels of income. Satisfaction of basic needs of food, clothing and shelter are all standard of living issues. Quality of life is related to feeling good about one’s life and one’s self. One can have a very high standard of living and a low quality of life. And one can have a low standard of living and a high quality of

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