1. World problems
  2. Prohibitive cost of living

Prohibitive cost of living

  • High cost of living
  • Inflated cost of necessities

Nature

Continuing increases in the cost of living or the level of retail prices tend to diminish the ability of consumers to purchase the goods and services on which they depend in order to maintain an adequate standard of living. Increases in nominal wages may sometimes be considerably reduced, or even effectively nullified, by rises in prices.

Claim

The prohibitive cost of living is an urgent crisis that demands immediate attention. It suffocates families, forcing them to choose between basic necessities like food and housing. This relentless financial strain exacerbates inequality, stifles economic mobility, and erodes mental health. As wages stagnate and prices soar, countless individuals are pushed into poverty. We must prioritize solutions to this pressing issue, ensuring that everyone has access to a decent standard of living and a chance for a better future.This information has been generated by artificial intelligence.

Counter-claim

The notion that the prohibitive cost of living is a significant problem is exaggerated. Many individuals simply need to adjust their spending habits and prioritize essential needs over luxuries. Society has always faced economic challenges, and resilience is key. Instead of lamenting high costs, we should focus on personal responsibility and innovation. Complaining about expenses distracts from the real issues, such as personal growth and financial literacy, which are far more crucial for success.This information has been generated by artificial intelligence.

Broader

Excessive costs
Unpresentable

Narrower

Aggravates

Aggravated by

Related

Strategy

Value

Prohibition
Yet to rate
Inflation
Yet to rate
High-mindedness
Yet to rate
Costliness
Yet to rate

SDG

Sustainable Development Goal #11: Sustainable Cities and CommunitiesSustainable Development Goal #12: Responsible Consumption and Production

Metadata

Database
World problems
Type
(C) Cross-sectoral problems
Biological classification
N/A
Subject
  • Amenities » Living conditions » Living conditions
  • Commerce » Purchasing, supplying
  • Content quality
    Presentable
     Presentable
    Language
    English
    1A4N
    F1238
    DOCID
    11612380
    D7NID
    135116
    Last update
    Oct 4, 2020