Concept

Standard of living

Overview

level of ownership and consumption of goods and services

Overview adapted from Wikipedia (CC BY-SA 4.0; see the article history for authors).

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The stage of commodity production introducing civilization is marked economically by the introduction of (1) metal coins and, thus, of money as capital, of interest, and of usury; (2) merchants as middlemen between producers; (3) private property and mortgage; (4) slave labor as the prevailing form of production. The form of the family corresponding to civilization and becoming its pronounced custom is monogamy, the…
Friedrich Engels, The origin of the family, private property, and the state
Close in meaning to Standard of living; the term itself is not named.
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Hence the cost of producing them is greater, and the cost of maintaining them by no means inconsiderable.) The advantage consists in avoiding interruption and incident loss. Nothing is more expensive than a start. "The higher the standard of living, the greater will be the expense of maintenance, nourishment, and propagation, as also the risk and the probability of an utter fall on reaching the summit."
Friedrich Wilhelm Nietzsche, The Will to Power
Names Standard of living.
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This condition of society, so greatly preferable to the present, is not only perfectly compatible with the stationary state, but, it would seem, more naturally allied with that state than with any other.
John Stuart Mill, Principles of Political Economy
Close in meaning to Standard of living; the term itself is not named.
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