Inequality in social standard of living in the international context
Inequality in social standard of living in the international context

Summary/Abstract: Socio-economic development of each country depends on the most important factor of economic growth, i.e. human capital. Theproblems of effective human capital functioning and development is intimately connected with social standard of living which isthe main indicator of both social, economic and political well-being of any country. At the present stage of the development ofglobal 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 toreduce social inequalities in living standard. Thus, studying the issues of inequality in living standard remains relevant in termsof specifying objectives, directions, and selection of social policy scope and activities. The article presents methodical guidelinesto address the issues of measuring inequalities in social standard of living, which, in today’s globalized world, are indicatorsreflecting the relationship between economic growth and social balance in the society. To do this, it is proposed to use the indicatorscharacterizing human development and social benefits received by the population. The comparative analysis of the countries hasbeen substantiated. It gives an opportunity to structure the main factors affecting the social standard of living and to synthesizethese factors’ unevenness. Both world country ranking of social standard of living in terms of its main indicators, the reasons ofinequalities in social standard of living and the basic mechanisms of effective social policy developing have been analyzed.

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