yup, if it's standard of living it means social development which would include factors such as HDI, literacy, infant mortality, life expectancy, income disparity, World Development Index (WDI) and so on...but not much as inflation that would be economic development, and less of standard of living...
to prove its effect from globalisation, it would be good to compare and contrast a certain economies HDI index, literacy, income disparity between different years (such as 2 decades ago and current data), or depending on countries, such as China you may compare prior to 1980 and now, which has had huge improvements to date.
standard of living on the global economy could be examined by the trends of nations, one such example could be seen that people being lifted out of the poverty line (US$1 a day) are mainly in China and India, which despite allows Millenium development goals to be reached, are largely unevenly developed as only mainly 2 nations are improving while Sub-saharan africa has had little change and has none of it's aims on track to meet the development goals...
hope that helps a bit!
