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.

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The social development and lifestyle of
people
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are directly associated with the economic growth of nations
that is
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why it is the prime focus of the majority of governments.
This
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materialistic approach has devastating impacts on cultural and traditional norms. I believe that the benefits of economic prosperity are far more than its side effects on social values.
To begin
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with, there are a few negative effects of economic progress on social norms. Social bonds become weaker with financial well-being, as
people
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can buy anything which they want and their mutual dependence minimizes.
Moreover
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, in a society influenced by consumerism, individuals think about profit and loss and they don't care about social and cultural values.
For instance
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, a commercial corporation that wants to earn money even jeopardizing local tradition,
it
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apply
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would have catastrophic consequences.
On the contrary
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, there are enormous positives of fiscal growth.
First
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and foremost, the lifestyle of
people
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would significantly improve because they have enough funds to spend better life and buy luxuries for them.
Secondly
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, it would raise the standard of health in a society, for ,example if a country is economically prosperous it would have surplus money for healthcare services which ultimately decline the mortality rate in the nation.
Last
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but not the least, the financial well-being of
people
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gives them a sense of security which is incredibly important for their mental health and prevent them from psychiatric illness like depression, anxiety and psychosis. In conclusion, in my
opinion
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,opinion
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even though economic development may cause turmoil in social values, it enhances the
people
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's standard of living
such
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as better housing, and medical facilities.
Submitted by drmehmoodahmed33 on

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Topic Vocabulary:
  • standard of living
  • economic development
  • quality of life
  • infrastructure
  • healthcare
  • education
  • job opportunities
  • unemployment
  • poverty
  • technological advancements
  • innovation
  • traditional cultural values
  • social bonds
  • material wealth
  • consumerism
  • social inequality
  • environmental conservation
  • wealth gap
  • vulnerable groups
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