Nowadays, most countries improve the standard of living through economic development. But some social values are lost as a result. Do you think the advantages of the phenomenon outweigh the disadvantages?
World economic development has rescued many people from deprivation and brought a better life,
whereas
some claim this
trend leads to the loss of traditional values. In my opinion, this
trend has more advantages and disadvantages which are manageable to cope with.
On the one hand, many benefits are brought because of economic growth. Firstly
, it reduces impoverishment and improves the quality of life. While
the economy grows, more job opportunities are being created. The income from jobs can help society escape poverty and the population can have a better standard of living. In addition
, they can have access to education when they can afford the tuition fee. Through education, folks can gain a variety of knowledge in many fields and learn how to use it for a better world. For instance
, the growth of the IT sector in India has created many placements for a variety of professions as well as
offering them a better living situation.
On the contrary
, a few social values are also
lost in this
process. First of all, due to
these reforms, the middle and lower segments of society are greatly affected. Many of these come at the cost of many public losing their homes and property, as powerful societies manipulate them for their own business needs. Lastly
, these developments have also
resulted in the monopoly of business for companies with deep pockets, which has greatly affected small and medium-scale companies. For example
, companies like Amazon and Flipkart have resulted in the shutdown of many small delivery parties as they couldn't survive with the aggressive pricing that these big shots are providing. Therefore
, the above points also
showcase the negative aspects of these reforms.
To conclude
, in my opinion,the significance of economic development greatly outweighs its negative sides. The convenience of life and creation of new jobs which has catered to so many unemployment
around the globe truly Replace the word
unemployed
highlights
its positive impact around the globe.Correct subject-verb agreement
highlight
Submitted by noorh26 on
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