People spend a lot of money on various things as they earn more money nowadays than before.Is it a positive or negative development?

Economic development has led to an increase in the purchasing power among individuals, and they are spending more cash on different things as compared to the past. In my view, there are more positive aspects verses the negative impact. In my essay I will discuss both the views, before I draw a conclusion. To embark upon, the economic development of a nation has many positive impacts. Developed countries have a higher employment levels, which leads to increasing their spending power of the individuals.

For example

, we have seen people spending their money on different things like travel, buying latest devices etc.

In addition

,

this

also

helps in reducing crime in the country. As most of the people are employed and have disposable income they are able to meet their needs as well as the needs of their loved ones. There is less theft in the country as people are employed and earning good earnings.

However

, there are some downsides to

this

. As individuals have a lot of disposable wage, they tend to lose the value of things and money. With technology getting more and advanced each day, people spend a lot of their revenue on latest devices

such

as mobile phone, laptops, home appliances.

Furthermore

,

this

leads to the huge amount of wastage, as people throw away their own devices. In conclusion, having a huge disposable livelihood among the people of the country portrays a positive sign.

However

, it is important that

such

earnings needs to be used wisely which can lead to benefiting the whole society.