Thursday, 1 September 2011
CASE 336 - The cost of living
Cost of living is the cost of maintaining a certain standard of living which will be different in each country, western or 3rd world. Changes in the cost of living over time are often operationalized in a cost of living index. Cost of living calculations are also used to compare the cost of maintaining a certain standard of living in different geographic areas. Geographic differences in cost of living can be measured in terms of purchasing power parity rates.
Top 50 cities: Cost of living ranking
Other articles relating to this subject
Cost of living in the 3rd world
The Third World remains poor because the powerful strive to dominate every choke-point of commerce. One key choke-point is political control through the "co-respective" support of local elites. Where loyalty is lacking, money will be spent to purchase it. If a government cannot be bought or otherwise controlled, corrupt groups will be financed and armed to overthrow that government and, in extreme cases, another country will be financed to attack and defeat it
In the 3rd world most people can only afford the essentials or local produce. The price of bread in Ghana is $0.46. In the US $1.28, UK £1.55. Most places in the 3rd world either have no electricity or a little amount at the important places or tourist destinations, where it could cut out at any point, even for days sometimes, but a lot don't pay or the government pay for. Water at the end of the road in a pump or you're lucky and have running water like the hotels. travel costs are either small or nothing
Cost of living in the developed world
Under social class will claim up to £300 per week to live
working class will pay up to £300 per week to live which will be around 80% of their wealth
lower middle class will pay up to £500 per week to live which will be around 70% of their wealth
upper middle class could pay up to £1000 per week to live which could be between 10% to 50% of their wealth, but...... you can always become a politician and get everything payed for by the lower middle class and working class.....!