Cost of living

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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]

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).

[1] Dan O'Rourke (2022-02-08). "Cost of living crisis caused by capitalist chaos" Socialist Party (Ireland).

[2] James Kilby (2022-02-03). "Cost of living crisis: Fight inflation with socialist policies!" Socialist Appeal.

[3] "What can we learn from how the Soviet bloc tackled its housing crisis?" (2017-01-17).

[1]

[2]

[3]

See also

References