Standard of Living in the European Union

Abstract

This chapter focuses on the measurement of standard of living and on the factors influencing its level. Specific attention is paid to the indicators of standard of living, and the frequent employment of GDP is discussed and compared with possible alternatives. Household income is also a factor of central importance in determining standard of living, and the chapter assesses this factor in terms of household income distribution, the setting of poverty limits, the measurement of income disparity and the causes and effects of poverty. The situation is monitored in five selected EU countries: the Czech Republic, Finland, France, Spain and the United Kingdom