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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
References
- ↑ 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).