comparative living standards in the uk.docx

7/28/2019 Comparative living standards in the UK.docx

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Comparative living standards in the UK.

Economics based on the history, were the root for every problem. Even the World War Two

starts because Germans were not satisfied because they need to pay for debts. Debts were part of

the economic system. So economics performances of country determine how well the citizens would

live. Stable economic leads to a harmonious country where everything can run smooth. Because in

todays world, no trades are free. They need money. They need economics. In this artic le we would

go through how United Kingdom has been doing all these years. How living standards being affected

by the economic performances of the country itself. There would be numbers of indicators to

indicate whether its doing well or not.

Back in 1971 , the GDP ( bn at the current prices ) was 57.5 , as we can see the the GDP

rises to 1309.9 in year 2006 which there s huge amount of difference to show how drastic the

changes in 35 years. For sure within this period, the standard of living becomes better. GDP is

defined as Gross Domestic Product which used to measure the performances of the economy for the

country. If GDP increases, it means that the country economics performances are doing well.

Table 9 shows that how an economic performances that doing well could benefit to a better

standard of living. In early 1970-1971, government spending on education as % of GDP is 5.20. In

year 2006, the data shows that the government had spent more on the education which is 5.60.

People got to believe that when someone is well educated, they will contribute more for the

economy so the performances could rise up. For the employment rate, the female shows that there

are huge differences between the numbers of female that joins labour force in year 1971 to 2006.

This is to show that woman no longer baby-sitting their babies and be a housewife forever, because

when the joined the market, the performances getting better by years. Labour demand is one of the

causes of economic growth. Thus the data proved it. The existence of households increased which to

show that economic welfare being taken care by the government as they can provide more houses

during the duration time from 1971 to 2006. Health states of the citizens being better as the


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statistics of prevalence of adult cigarette smoking by sex decrease to 20% for both genders. Besides

that the volume of domestic household expenditure on goods and services increased thus resulted

to better economic performances. The air quality seems to be better in quality through the year and

this might be the result of the enhancement in the usage of technology for factories and other sorts

of activities that leads to air pollutions. These were some of the benefits of economic growth to the

society.

Nevertheless theres an opportun ity cost occur when your economy performances doing

well. Like the amount of unemployed people is 0.75 in year 1971. Surprisingly the numbers increase

to 0.96 in 2006. Supposedly when the economic is doing well, the rate of unemployment should

decrease. This could be affected by the preference of citizens about their working sector, company

taking immigrants as workers, where we can show the populations increase by 5 during the three

decades in the data Table 4. Next, we can see that numbers of abortions occur increase by 300 %

which considered as not a good sign to the country in terms of killing human rights for the babies ,

which is the right to live on. When the living standard gets better, people would consume more and

when they consume more, it may results to an increasement of obese people. The statistics shows a

YES to the assumptions. In 2003, more males and females were obese. At the same time, when the

rate of consumptions increase, the environment getting worse because they got to bare the carbon

dioxide emissions and wastage. This could lead to an unhealthy world, where global warming could

increase and UV light can penetrates easily into the earth as the ozone layer gets thinner. If these

kinds of situation keep happening, it could harm the health state of the citizens.

In conclusion, rising of GDP for 35 years could ensure the better United Kingdom in year

2020. Why I say it would be better, because the data showed more positive impact rather than the

negative impact. But at the same time, the res always an opportunity cost occur for something. As

we want to increase the economics performances, lots of things need to be sacrificed. For example,

the environmental problem might be worsened in times because lots of resources need to be


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processed and each process would cause wastages. In macroeconomic, we do learn that the rising of

GDP would give greater pressure on inflations, where only rich people could afford to consume

goods and service provided while the lower income people suffered. Economics is a derived to one

another, for example, the rising of price for a thing could result higher in price for other goods. In

2020, populations will increase, more job markets could exist, more people can get jobs, the

government might spend more on education sector. When people get more educated, they could

ensure a better life for them and their family members. On the other hand, lots of factors need to be

taken into accounts to ensure the predictions happen as expected. For example, political state of the

country, if its doing well, theres nothing much to worry about the economic growth. Lots of things

need to be considered in order to achieve the targets.

comparative living standards in the uk.docx

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