THE STANDARD OF LIVING IN THE COUNTRIES OF THE EUROPEAN UNION

The analysis of living standards has long been a central element in macroeconomic studies, given that the impact of quality of life on the economic health of a nation is considerable. The quality of life of citizens is directly correlated with economic productivity, consumption, as well as health and education. Therefore, understanding the extent to which the population enjoys well-being or lives in conditions that satisfy its basic needs becomes essential. This implies the use of indicators of a complex nature that, above all, reflect the state of the economy. In this context, both developed and developing countries focus their attention on living standards, considering them a much more revealing indicator of economic performance than the simple analysis of gross domestic product (GDP). The purpose of this paper is to explore how the perception of living standards has changed over time and to identify the factors that have influenced these changes.