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?

The inception of economic

development

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in any

country

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is the

first

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step of becoming a developed

country

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. Many nations are determined to promote economic

development

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in order to enhance the quality of life of their citizens. It is obvious that the change in the quality of life means a change in social values,

however

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, the advantages of economic

development

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supersede the demerits of it. Many countries have relaxed the foreign investment norms in order to improve the economic status of the

country

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,

however

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,

this

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has resulted in the loss of some social values due to improved physical

infrastructure

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.

Firstly

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, every

country

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is determined to invite foreign companies to invest and improve the GDP of the

country

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and for that many developing countries improve the physical

infrastructure

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.

For instance

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, I have recently heard the prime minister of India announcing the biggest relaxation in taxes for foreign investors to make in India to promote the manufacturing sector in the

country

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.

This

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development

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will surely improve the basic services provided by the government to lure the foreign companies which will

further

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improve the employment statistics and the average earning income per month of the

country

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.

Consequently

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, the merits of

this

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will improve the living standard of every individual.

On the contrary

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, the promotion of economic

development

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by improving the physical

infrastructure

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in the urban areas has left an impact on the social values of the citizens. In the case of India, there are many rituals that were affected by the improvement in the transportation system.

For example

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, on the day before Diwali, people do conduct a ritual of keeping food and water on nearby crossroads,

this

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tradition has been lost as nowadays littering on roads is a public offence owing to provide better physical

infrastructure

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. To summarize, the economic

development

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can lead to

i

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an

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ncrease in average earning income of the citizens,

however

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, it may eradicate some traditions due to improved living standard. Clearly, the advantages of the economic

development

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outweigh the disadvantages as it not only improves the quality of life but

also

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eliminates some of the old traditions which have a noxious impact on the environment.