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?

Most nations have believed that economic growth is the most effective method to provide their population with higher living conditions. However, it is argued by some that this decision has caused several social issues to be forgotten. In my opinion, I consider the demerits incurred by the advancement of the economy to be moderate compared to its benefits. Admittedly, there are some downsides placing too much importance on wealth and prosperity. First, parents have to spend most of their time at work, which means less time for their family. This issue has become popular nowadays, especially in major cities, which can lead to the distance in parent-child relationship. Secondly, people feel insecure because robbery and stealing crimes are increasing in quantity and quality. Some prefer keeping money on their bank accounts so that there would be less chance of them being attacked on the street. On the other hand, it is undeniable that economic development has brought outstanding benefits in many aspects. To begin with, the unemployment rate has significantly shrunk. This comes from companies opening factories to boost operating capacity, as a result, they need to hire more employees. Moreover, the governments have the motivation and ability to provide better healthcare and education. More financing resources are invested in building hospitals, nursing homes, institutions, . . . , resulting in a higher living standard. The more residents receive, the more they work to contribute to the country’s total value. In conclusion, it is undoubted that despite the consequences of social values being forgotten, economic growth has brought about incredible benefits. Thus, the government should continue to pay extra attention to this issue.