Most countries aim to improve their standard of living through economic development, but many important social values can be lost as a result. Do the advantages of economic development outweigh the disadvantages?

In today's modern world, a substantial number of nations only focus
to develop
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on developing
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their standard of living through economic improvements,
however
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, they lose several significant social approaches.
Although
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the merits of economic
development
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surpass the drawbacks, there are major social developments that should be considered.
This
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essay will explore both advantages and disadvantages, providing relevant examples, before reaching a well-justified conclusion. There are numerous positive points. One of the main advantages is reducing inflation
of
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in
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countries. The economy is the most powerful tool, which any country has to battle with every sector. With a better economy, it can help to minimize poverty, especially in developing countries. Poverty is only one of the primary social issues that can be addressed by economic
development
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, but other social values can be lost.
For example
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, the US has acquired the highest economic success,
however
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, it cannot mitigate notable social issues,
such
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as nationalism and racism.
In contrast
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, economic
development
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may negatively affect society in direct or indirect ways, including the influence of tourism and high taxation.
Consequently
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, the family, the smallest unit and the backbone of the society, may be collapsed.
For instance
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, a recent research conducted by the University of Peradeniya (2024) revealed that in Sri Lanka
due to
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the high taxation rate and increase in the tourism sector, that was introduced in 2022, 35% of local jobs were lost and 22% of social problems had been increased. In conclusion, taking everything into account,
although
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the merits of economic
development
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outweigh the drawbacks, it should be considered the other two major aspects: social and environmental. Poverty, nationalism, and racism are the major social issues that should be implemented as viable measures, for economic
development
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.

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coherence and cohesion
Improve the clarity of your ideas by organizing them into clear paragraphs. Each paragraph should focus on one main point.
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Provide clearer examples in each point to strengthen your argument. Examples can make your points easier to understand and more convincing.
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Make sure your conclusion summarises all main ideas and offers a final thought on the topic.
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You addressed both sides of the argument, showing good understanding of the topic.
task achievement
Your essay contains relevant points about economic development and its effects on society.

Your opinion

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...do you agree or disagree?...do you think...?...your opinion...?

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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