A popular theory among experts is that an increase in economic prosperity has diminishing marginal returns for citizens of a country that is already wealthy. While I agree with this statement, I also believe growing national wealth can bring benefits to the poorer populations of those countries.
On the one hand, the overall wealth of a country is not the only thing the majority of citizens care about. As the popular maxim goes, “money can’t buy happiness. ” Indeed, while a good social structure depends greatly on economic strength, there are other factors that contribute greatly to people’s happiness, in particular, mental health. Wealthy nations, such as the United States, typically report the highest prevalence of mental disorders, depression, and suicide rates, and the correlation between national prosperity and these issues is strong. Additional national wealth is unlikely to do much to allay these problems, so in this case, money is not a viable solution.
On the other hand, there are no prosperous countries in the world devoid of citizens living below the poverty line. While there are a handful of countries that can be considered to be generally wealthy, such as Singapore and the Scandinavian states, the wealth is not evenly distributed among the population. Inevitably, some individuals find themselves living at subsistence level due to an array of factors. For this unfortunate segment of the population, an increase in national wealth could translate to increased social benefits, such as housing subsidies and free education and health care. This would undoubtedly enhance the quality of life for these citizens.
Overall, while underprivileged members of a prosperous society would benefit from more generous social welfare systems brought about by extra wealth, economic expansion is not always accompanied by an increase in life satisfaction.
A popular theory among experts is that an increase in economic prosperity has diminishing marginal returns for citizens of a
country
that is
already wealthy. While I
agree
with this statement, I
also
believe growing
national
wealth
can bring benefits to the poorer populations of those countries.
On the one hand, the
overall
wealth
of a
country
is not the
only
thing the majority of citizens care about. As the popular maxim goes, “money can’t
buy
happiness. ”
Indeed
, while a
good
social structure depends
greatly
on economic strength, there are other factors that contribute
greatly
to
people
’s happiness,
in particular
, mental health. Wealthy nations, such as the United States,
typically
report the highest prevalence of mental disorders, depression, and suicide rates, and the correlation between
national
prosperity and these issues is strong. Additional
national
wealth
is unlikely to do much to allay these problems,
so
in this case
, money is not a viable solution.
On the other hand
, there are no prosperous
countries
in the world devoid of citizens living below the poverty line. While there are a
handful
of
countries
that can
be considered
to be
generally
wealthy, such as Singapore and the Scandinavian states, the
wealth
is not
evenly
distributed among the population.
Inevitably
,
some
individuals find themselves living at subsistence level due to an array of factors. For this unfortunate segment of the population, an increase in
national
wealth
could translate to increased social benefits, such as housing subsidies and free education and health care. This would
undoubtedly
enhance the quality of life for these citizens.
Overall
, while underprivileged members of a prosperous society would benefit from more generous social welfare systems brought about by extra
wealth
, economic expansion is not always accompanied by an increase in life satisfaction.
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