Wikipedia 10K Redux by Reagle from Starling archive. Bugs abound!!!

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The standard of living of the UnitedStates is among the highest in the world.  By measures of material wealth such as PerCapitaIncome or PerCapitaConsumption, the UnitedStates ranks higher than all but a handful of small city-state countries.  Of course, StandardOfLiving should be measured by more than just those factors: other factors include legal structure (freedom of speech, freedom of the press), crime (which is higher in the UnitedStates than in many other high-income countries), etc.  

Concerns may also be raised as to whether averages are the best way to coompare the standard of living, as opposed to Pareto indexes of some sort.  Some oil rich countries like Iraq may have a high average level of income, even though ordinary people aren't doing any of the consuming!  Measures which take into account, in some fashion, inequality, should
probably be considered.