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🏠 Standard of Living

The level of wealth, comfort, and material goods available to a group.

Standard of Living

Standard of living measures the level of wealth, comfort, and material goods available to a person or group. It includes income, housing, healthcare, education, and access to consumer goods. Higher standards of living usually mean longer lives, better health, and more options.

Economists often use GDP per capita as a rough proxy. It is imperfect. It misses inequality, environmental quality, and unpaid work. A country can have high average income but a large population living in poverty. A country can have lower income but strong public services and a cleaner environment.

Standards of living have risen dramatically over the past two centuries. Life expectancy has doubled in many places. Literacy has spread. Famine is rarer. The gains are not evenly shared, and progress has stalled in some regions. But the long trend is upward.

Common measures

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