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'''Cost of living''' is the cost of maintaining a certain standard of living. The capitalist | '''Cost of living''' is the cost of maintaining a certain standard of living. The [[Capitalism|capitalist]] economic system seeks to extract as much profit out of consumers as possible, which tends to result in ever-increasing costs of living. | ||
[[Socialism]], on the other hand, is able to rationally reduce the cost of living to alleviate the burden on the wage-earning proletarian class.<ref>{{News citation|journalist=Dan O'Rourke|date=2022-02-08|title=Cost of living crisis caused by capitalist chaos|url=https://www.socialistparty.ie/2022/02/cost-of-living-crisis-caused-by-capitalist-chaos/|newspaper=Socialist Party (Ireland)}}</ref><ref>{{News citation|journalist=James Kilby|date=2022-02-03|title=Cost of living crisis: Fight inflation with socialist policies!|url=https://www.socialist.net/cost-of-living-crisis-fight-inflation-with-socialist-policies.htm|newspaper=[[Socialist Appeal]]}}</ref> | |||
In the socialist [[Union of Soviet Socialist Republics (1922–1991)|USSR]], rent was 5% of income on average, while in 2017 in the capitalist [[United Kingdom of Great Britain and Northern Ireland|UK]] rent was 52% of a person's income.<ref>{{News citation|date=2017-01-17|title=What can we learn from how the Soviet bloc tackled its housing crisis?|url=https://citymonitor.ai/environment/what-can-we-learn-how-soviet-bloc-tackled-its-housing-crisis-2709}}</ref> | |||
== See also == | |||
* [[Living wage]] | |||
*[[Rent is Too Damn High]] | |||
== References == | == References == | ||
<references /> | <references /> | ||
[[Category:Stubs]] | [[Category:Stubs]] | ||
Latest revision as of 00:11, 29 March 2022
Cost of living is the cost of maintaining a certain standard of living. The capitalist economic system seeks to extract as much profit out of consumers as possible, which tends to result in ever-increasing costs of living.
Socialism, on the other hand, is able to rationally reduce the cost of living to alleviate the burden on the wage-earning proletarian class.[1][2]
In the socialist USSR, rent was 5% of income on average, while in 2017 in the capitalist UK rent was 52% of a person's income.[3]
See also[edit | edit source]
References[edit | edit source]
- ↑ Dan O'Rourke (2022-02-08). "Cost of living crisis caused by capitalist chaos" Socialist Party (Ireland).
- ↑ James Kilby (2022-02-03). "Cost of living crisis: Fight inflation with socialist policies!" Socialist Appeal.
- ↑ "What can we learn from how the Soviet bloc tackled its housing crisis?" (2017-01-17).