Economic Growth

Entrepreneurship

Standard of Living

Trade & Globalization

Terms & Theory

Standard of living refers to general economic wellbeing—that is, the material comforts, ease of living, and opportunities for personal satisfaction available to people. Here in New England as well as the rest of the nation, our overall material standard of living has risen steadily since the early 1800s. Dramatic advances in technology and increasing productivity have freed us from the hard labor and endless drudgery that were part and parcel of everyday life 200, or even just 100 years ago.

Features

Family Life Profiles*
Learn about the homes, food, clothing, household possessions, and transportation options of typical New England families over a 150-year span. You will follow the tremendous improvement in living standards that has occurred over time, and you will see the connection between these improvements and gradual increases in our ability to produce.

The 1810s
In 1810, a typical New England family lived on a 75-acre farm in central Massachusetts. The family included a father, mother, and four children, aged one to 14. Two additional children had died in infancy. The family worked together as a self-sufficient unit to produce almost everything they consumed—food, clothing, tools, and furniture. That which they didn’t produce, they obtained in trade or, less often, they purchased.

The 1890s
Many families of the 1890s were slightly smaller than in the 1810s. They most likely lived in a city or town. If their home was newly built, it had running water and indoor plumbing, but most of the population still depended on outdoor privies and wash basins. Stoves were replacing fireplaces for cooking, and kerosene or gas lamps provided much brighter lighting.

The 1960s
The typical family of the 1960s had four members and most likely lived in the suburb of a city. Their home sat on its own half acre of land and differed from its neighbors only in exterior color and landscaping. Cars defined the era: Cars made it possible for people to live in the suburbs and at greater distances from their place of work. Food, home items, clothing—virtually everything— was purchased. Many items were made overseas and/or were made of plastic.

Related Content
For more background on the concept of “standard of living,” including what it is, how we measure it, and how it has changed, see Spotlight on Standard of Living (Winter 2003 issue of The Ledger).

The primer offers a readable overview of the body of economic theory behind rising living standards in the U.S. over the past 200 years.

 

*Written by Melita Podesta, Project Coordinator in the Public and Community Affairs department, Federal Reserve Bank of Boston

KEY CONCEPTS | EXHIBITS | PLAN A VISIT | GAMES & ACTIVITIES | TEACHING RESOURCES | OTHER RESOURCES

ABOUT US | DIRECTIONS | CONTACT US | DISCLAIMER | SITE MAP | PRIVACY POLICIES