Cost of living is the cost of maintaining a certain standard of living. The capitalist mode of production seeks to extract as much profit out of consumers as possible, which tends to result in rising 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]
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.