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
in any country
is the first
step of becoming a developed country
. Many nations are determined to promote economic development
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
, the advantages of economic development
supersede the demerits of it. Many countries have relaxed the foreign investment norms in order to improve the economic status of the country
, however
, this
has resulted in the loss of some social values due to improved physical infrastructure
.
Firstly
, every country
is determined to invite foreign companies to invest and improve the GDP of the country
and for that many developing countries improve the physical infrastructure
. For instance
, 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
. This
development
will surely improve the basic services provided by the government to lure the foreign companies which will further
improve the employment statistics and the average earning income per month of the country
. Consequently
, the merits of this
will improve the living standard of every individual.
On the contrary
, the promotion of economic development
by improving the physical infrastructure
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
, on the day before Diwali, people do conduct a ritual of keeping food and water on nearby crossroads, this
tradition has been lost as nowadays littering on roads is a public offence owing to provide better physical infrastructure
.
To summarize, the economic development
can lead to i
ncrease in average earning income of the citizens, Add an article
an
however
, it may eradicate some traditions due to improved living standard. Clearly, the advantages of the economic development
outweigh the disadvantages as it not only improves the quality of life but also
eliminates some of the old traditions which have a noxious impact on the environment.Submitted by rrjoshi1993 on
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