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Economic Growth and Levels of Living

  • Wolfgang GlatzerEmail author
Chapter
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Part of the SpringerBriefs in Well-Being and Quality of Life Research book series (BRIEFSWELLBEING)

Abstract

After some millennia of relative economic stagnation, an increasing living standard was enabled since the nineteenth century by the success of industrialization. Economic growth was different by countries but has been improving the living standard in all countries. But after two centuries of economic progress in Europe, the over-optimistic material aspirations of the past were not fulfilled. Despite increasing income levels, there remained a severe burden from poverty, as defined by experts, and of subjectively felt scarcity, as ordinary people define their economic situation. Above economic growth was joined by ecological and climate threats. People in the European Union, especially the younger ones, have to worry about their future life chances.

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Copyright information

© The Author(s), under exclusive licence to Springer Nature Switzerland AG 2019

Authors and Affiliations

  1. 1.Department of Social SciencesGoethe UniversityFrankfurt am MainGermany

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