A second method of calculating living standards is to count the percentage of people owning consumer durables such as cars, televisions, etc. An increase in ownership indicates an improved standard of living. A third method of calculating living standards is by noting how long an average person has to work to earn enough money to buy certain goods. If people have to work less time to buy goods, then there has been an increase in the standard of living. Increased output of certain goods results in more noise, congestion and pollution.
Leisure time is reduced to achieve the production increase.
There is an increase in the amount of stress and anxiety in society. These pages are based on original material written by Richard Young of Wood Green School Witney.