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]
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.