Improving the standard living based on the economic development is going to be popular in majority countries, which leads to loss of social values. However, some light on its benefits and drawbacks on economic advancement would be discussed in this essay.
There are several advantages from having rapid economic growth to fulfil human needs. First and foremost, it could increase the consumption of goods and services which is related to utility, so in theory, with higher consumption levels, there is greater prosperity. Moreover, public services for society would be improved, including the health and education. It can be said that the government could provide the highest quality for health care by treating disease and assuring life expectancy. Also, improving the educational standards could contribute the population a great diversity of skills and literacy. By this means, economic development becomes essential to the most countries for the welfare and happiness.
Nonetheless, every coin has two sides and despite all the advantages of developed economies, there are some disadvantages too. People argue that this could lead to the loss of social values because high economic growth is directly creating injustice among poor and rich community. This imbalance would partially impact to the social discrepancy. Besides, the humanity and morality also would be lower since they only depend on materialistic that refer to disrespectful to the poor member. For instance, the wealthy community could not have any tolerance to build relationship, such as helping the poor people as one of social values too, other than economic aspect.
By way of conclusion, the dominance of economic value for standard living, including the increment of consumption and public services that are needed by a number of countries, have not more long run value than humanity and moral cost. I believe that the benefits of economic growth could merely belong to the rich community, and it is not assuring the poorer individuals to have the prosperity too.
Improving the standard living based on the
economic
development is going to be popular in majority countries, which leads to loss of
social
values.
However
,
some
light on its benefits and drawbacks on
economic
advancement would
be discussed
in this essay.
There are several advantages from having rapid
economic
growth to fulfil human needs.
First
and foremost, it could increase the consumption of
goods
and services which
is related
to utility,
so
in theory, with higher consumption levels, there is greater prosperity.
Moreover
, public services for society would be
improved
, including the health and education. It can
be said
that the
government
could provide the highest quality for health care by treating disease and assuring life expectancy.
Also
, improving the educational standards could contribute the population a great diversity of
skills
and literacy. By this means,
economic
development becomes essential to the most countries for the welfare and happiness.
Nonetheless, every coin has two sides and despite all the advantages of developed economies, there are
some
disadvantages too.
People
argue that this could lead to the loss of
social
values
because
high
economic
growth is
directly
creating injustice among poor and rich community. This imbalance would
partially
impact to the
social
discrepancy.
Besides
, the humanity and morality
also
would be lower since they
only
depend on materialistic that refer
to disrespectful to
the poor member.
For instance
, the wealthy community could not have any tolerance to build relationship, such as helping the poor
people
as one of
social
values too, other than
economic
aspect.
By way of conclusion, the dominance of
economic
value
for standard living, including the increment of consumption and public services that
are needed
by a number of countries, have not more long run
value
than humanity and moral cost. I believe that the benefits of
economic
growth could
merely
belong to the rich community, and it is not assuring the poorer individuals to have the prosperity too.