Inequality in social standard of living in the international context

Abstract

Socio-economic development of each country depends on the most important factor of economic growth, i.e. human capital. The problems of effective human capital functioning and development is intimately connected with social standard of living which is the main indicator of both social, economic and political well-being of any country. At the present stage of the development of global socio-economic system, achieving a high or acceptable standard of living is a priority for the developed world economies. At the same time, trying to solve the problems of economic growth developing countries do not make effective decisions to reduce social inequalities in living standard. Thus, studying the issues of inequality in living standard remains relevant in terms of specifying objectives, directions, and selection of social policy scope and activities. The article presents methodical guidelines to address the issues of measuring inequalities in social standard of living, which, in today's globalized world, are indicators reflecting the relationship between economic growth and social balance in the society. To do this, it is proposed to use the indicators characterizing human development and social benefits received by the population. The comparative analysis of the countries has been substantiated. It gives an opportunity to structure the main factors affecting the social standard of living and to synthesize these factors' unevenness. Both world country ranking of social standard of living in terms of its main indicators, the reasons of inequalities in social standard of living and the basic mechanisms of effective social policy developing have been analyzed.