Quality and life 

Your standard of living is defined as the degree of wealth and material comfort available to a person or community. Your quality of life is similar, the standard of health, comfort, and happiness experienced by an individual or group: the things that are needed for a good quality of life.

Inflation is a general increase in prices and fall in the purchasing value of money; this condition can lead to a lowering of your family's standard of living.

To understand what constitutes "health, comfort, and happiness," we need to define the difference between needs and wants in life. Every family needs a warm, dry place to live and electricity, drinking water, and waste disposal to have an adequate shelter. They also need adequate food to feed the family, serviceable clothing, and reliable transportation to get them to and from work.

Each of these "needs" costs money, and when inflation occurs, it can impact how you satisfy your wants. Wants include the "finer things in life," such as a trip to the water park, a movie ticket, tobacco or alcohol, and cellphone upgrades. You don't "need" any of these things to survive, but some are nice to have.

Inflation can impact both your standard of living and your quality of life. In December 2022 the Harvard Business Review put it this way: "Inflation is defined as a rise in prices across an economy, and in 2022 it has emerged as one of the biggest threats to global prosperity. When prices rise unexpectedly, money doesn't go as far as it used to, which can trigger demands for raises which then cause more inflation. When prices rise really quickly, the basic functioning of an economy can break down. For example, in periods of "hyperinflation," people rush out to spend money the moment they get paid, because every hour they wait to spend means higher prices" ("What Causes Inflation?" Dec. 23, 2022).

It hasn't changed in 2024. A good example of inflation can be demonstrated by the size reduction of many products while the prices either remain the same or have slightly increased. I have an old coffee can from a couple of years ago; the weight was 33 ounces. A newer one of the same brand I bought last week was a little more expensive, but only weighs 26.8 ounces. Almost all other products have also reduced their size, so we spend more for less.

How do rising wages also contribute to rising costs of goods and services? For example, the recent California mandated minimum wage increase for certain fast-food restaurants resulted in reduced staffing and price increases. The people working there had their hours reduced or they lost their jobs to make up for the increase in labor costs, and consumers paid more for their products.

Thus, both the workers and their customers suffered because of a shortsighted government mandate. Many fast-food joints simply closed when their "loyal customers" could no longer afford a burger and fries. This had an impact on both the businesses and the quality of life for the families and their kids who liked fast food and considered it a treat.

Meanwhile a similar mandated wage increase for health care workers in government facilities was "delayed" when Gov. Newsom found out it was going to impact the state budget. You see, politicians don't care whether you can afford a hamburger, but if it impacts the government budget they panic.

Many think the current rapid rise in inflation is caused by the government's reactions during the COVID crisis. Shutting down large sectors of business, pumping billions into the economy to "stimulate" it—or as some say "compensate" the population for the inconvenience of their actions—created a rise in costs as supply couldn't meet the demand and prices went up.

In November there is an election. Only registered voters can make choices, and all of you, no matter what your political party affiliation is, will have a chance to choose a leadership team. If we keep electing people from the same political party that's in power in California now, we can't expect anything to change; we'll still get less and pay more for it.

The biggest question you should be asking yourself before voting is: "Is my family's standard of living any better than it was four years ago?" I am guessing that at your house, just like mine, the answer is "no."

If that's the case, then we need a new political leadership team in California and at the national level. Δ

Ron Fink writes to New Times from Lompoc. Send a letter for publication to [email protected].