Nowadays, most countries can improve the standard of living through economic development, but some social values are lost as a result. Do you think the advantages of this phenomenon outweigh the disadvantages?

In contemporary society, the advancement in the economy results in improving the standard of living in most countries worldwide,

while

, eventually, people lose several types of social value.

Although

economic

development

is necessary to enrich individual lifestyles, I strongly believe that there is a significant risk in

this

excessive advancement in various industries.

To begin

, considerable economic

development

brings a number of advantages to an individual's living.

For example

, in rich countries

such

as Singapore, many individuals can own incredibly expensive cars and properties, and

also

shop for luxury products, which are even unnecessary for living, merely because of their strong passion for buying.

Subsequently

,

this

behaviour of rich people accelerates the production of luxury goods and services in a variety of industries for their

development

and profits, thereby consuming natural resources and energy sources excessively.

On the other hand

,

while

economic

development

could increase the standard of living, a lot of social values are impacted in an immense negative way and

then

no longer exist.

For instance

, in Japan, most large companies' offices are located in major cities

such

as Tokyo and Osaka.

Subsequently

, a significant number of the younger generation ended up relocating to these cities for their work.

Consequently

, there are countless rural areas and small villages which merged with larger cities

finally

, thereby losing their precious culture and heritage.

Moreover

, an excessive use of natural resources and energy,

also

negatively impacts our environment, including deforestation and air pollution. In summary, nowadays, it is a common understanding that economic growth enriches an individual's lifestyle.

However

, I wholeheartedly believe that the excessive demand of unnecessary productions brings detrimental effects on our society, culture, heritage and the environment.

Therefore

, many large enterprises and the government should engage in activities which contribute to the sustainability of social values.