Standards of Living

Marshall Sahlins, the living standard of Stone Age Economics, compares economic strategies of industrial society with hunter gatherers. By doing so, he eliminated social poverty, misfortune and hunger - the previous view of hunting. He explained this by insisting on some points of relevance. First of all, in industrial society, people's needs are very high and their means are limited. Industrial products are made to compensate for this gap between demand and means. In hunting collecting society (Zen's path described by Sahlins), my needs are low and technical means to satisfy these needs are sufficient.

Living standards are often used to compare geographical areas such as the living standards of the United States and Canada, living standards of St. Louis and New York. Living standards can also be used to compare different points in time. For example, compared to the century ago, the standard of living in the United States has greatly improved. More items were purchased with the same amount of work, and luxury goods such as refrigerators and cars were once widely used. In addition, life expectancy increases, annual working hours decrease

The terms living standard and quality of life are generally considered to be the same. Though they may overlap, there is a difference between the two. Living standards generally refer to wealth, comfort, material wealth, the necessity of a particular class in a particular field, or more objective characteristics, the quality of life is more subjective and intangible. Characteristics that constitute the quality of a person's good life may not necessarily be the same for others.

The standard of living is the level of wealth, comfort, material products and necessities available to socio-economic classes or geographical areas. Living standards include income, gross domestic product (GDP), domestic economic growth, economic and political stability, political and religious freedom, environmental quality, climate and security. The standard of living is closely related to the quality of life. Living standards are often used to compare geographical areas such as the living standards of the United States and Canada, living standards of St. Louis and New York. Living standards can also be used to compare different points in time. For example, compared to the century ago, the standard of living in the United States has greatly improved. The same number of work has increased the number of products purchased, and luxury goods like refrigerators and cars are now widely used.