Many countries aim to improve their living standard by economic development, but some important social values are lost as a result. Do you think the advantages of economic development outweigh the disadvantages?

In the

last

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decades, the vast majority of nations have made economic progress their priority.

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has resulted in a noticeable improvement in the quality of

life albeit

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life, albeit

some negative social repercussions. Despite these drawbacks, I argue that

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development has more merits. On one side of the argument, some people opine that the main disadvantage of financial prosperity is the loss of values

such

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as the importance of family. One good illustration of

this

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is that earlier, people used to pay

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a visit

visits

to their relatives frequently while now, due to their heavy workload, they can only do that from time to time.

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results in the loss of the bond between family members.

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Thus it

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Thus, it

is easy to see why

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view is gaining support. Despite these repercussions, people’s lives are improved by economic development. The main reason

of

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for

believing

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is that

this

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change has resulted in better living standards and

consequently

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made people happier. Indeed, the more countries are developed, the more habitants are satisfied about their lives. A particularly good example of

this

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is the ranking of countries where people are the most happy. Unsurprisingly

,

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,

wealthy nations like Denmark and Norway are always ahead of developing countries. Seen in

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light, economic prosperity has considerable positive impacts on people. Having considered a range of arguments, I have drawn the conclusion that

although

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there are some demerits of financial development related to social values, I believe that they are outweighed by the positive impacts on people's wellbeing. It is hoped that these disadvantages will be minimized for the betterment of societies.