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
decade, many countries have been focusing on economic
development
, as they believe it is the way forward to improve the living conditions for their citizens.
However
, due to
this
social values get eroded. I feel, there are more advantages to economic
development
than disadvantages which I will substantiate in
this
essay.
First
and foremost, economic
development
is something that will benefit every single native. With the advancement of technology and the internet, it is impractical for a nation to sit back and not wish to capitalise in
this
area.
This
sort of
development
will help persuade multi-national companies to choose to set up their headquarters in a particular city, thereby help increase the number of jobs in that locality. In turn,
this
rise in jobs will help increase the spending power of the people and
this
cycle will continue, and over time lead to more advancements.
For example
, in Trivandrum major car companies
such
as Ford, Nissan, Jeep, Honda, and even Toyota have decided to set up a showroom. Alternately, the disadvantages of
this
are mainly that nationals end up working extremely long hours for the betterment of the company. The drawback here is that they lose precious family time which will create a disconnect between parents and children.
This
is worsened by the fact because of the increase in prices of basic commodities, it is only practical for both parents to work to meet the demands of the extra expenses. Because of
this
disconnect, children become agitated and less responsive to their parents, which if left unchecked can lead to disastrous results. In conclusion, I feel that economic
development
is necessary from a kingdom's standpoint,
however
, it can
also
have its drawbacks.
Submitted by Nigelvictorlawrence on

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