Standard of Living Confusion

Well, I’ve just been assigned a paper about whether equality or the absolute standard of living is more important.  I don’t quite understand what that means, so I’ll try to educate myself a little before I rant about it.

Let’s look at both sides of the argument.  If I were to say that equality is the better option, that would be because I think that everyone deserves the same benefits and opportunities.  In a perfect world we would all be the same; however, that is far from reality.  We live in an incredibly imperfect world, where resources and wealth are distributed unequally and nobody has the same chances.  ANYWAYS, perfect equality is ideal, even though I think that it is unattainable.

Now for the other side: the standard of living.  From what I understand of the definition,  it means being comfortable within your means.  I am about 2% sure if that is true or not, so I will refrain from saying anything further to prove myself an idiot!  I will definitely ask my professors to clarify next week!

I suppose this post has served only to show that I have absolutely no idea what I am talking about . . . so now I will go look up the facts so I can make an informed argument!

 

definition found on Investopedia http://www.investopedia.com/terms/s/standard-of-living.asp

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