Many countries aim to improve their living standard by economic development, but some important social values are lost as a result. Do you think the advantages of economic development outweigh the disadvantages? v.1

In the last decades, the vast majority of nations have made economic progress their priority. This has resulted in a noticeable improvement in the quality of life albeit some negative social repercussions. Despite these drawbacks, I argue that this development has more merits. On one side of the argument, some people opine that the main disadvantage of financial prosperity is the loss of values such as the importance of family. One good illustration of this is that earlier, people used to pay visit to their relatives frequently while now, due to their heavy workload, they can only do that from time to time. This results in the loss of the bond between family members. Thus it is easy to see why this view is gaining support. Despite these repercussions, people’s lives are improved by economic development. The main reason of believing this is that this change has resulted in better living standards and consequently made people happier. Indeed, the more countries are developed, the more habitants are satisfied about their lives. A particularly good example of this is the ranking of countries where people are the most happy. Unsurprisingly, wealthy nations like Denmark and Norway are always ahead of developing countries. Seen in this light, economic prosperity has considerable positive impacts on people. Having considered a range of arguments, I have drawn the conclusion that although there are some demerits of financial development related to social values, I believe that they are outweighed by the positive impacts on people's wellbeing. It is hoped that these disadvantages will be minimized for the betterment of societies.