Most countries, around the globe; deem economic development as the best tool for improving their living standards; however, there are people who believe that economic growth leads to the loss of social values. In this essay, I am going to shed some light on the advantages and disadvantages of economic development.
It is certainly true that developed countries have improved people’s way of living by providing enhanced standard of public services: health and education. Improved health care helps in increasing people’s life expectancy by treating dangerous diseases. For instance, Obama Care, in America, provides better medical facilities to its citizens and also does research and development for discovering better and cheap medicines. Furthermore, improved educational standards can give the people a greater diversity of skills and a broader mindset. To exemplify, in my knowledge, I have learned that education is accounted an important medium for prosperity and happiness of a nation.
However, 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 higher economic growth is directly proportional to long hours of hard work. Its first negative impact will be that the hard working parents will not be able to spare precious time for their children; hence, children will eventually get involved in anti social activities. For instance, the children of African-Americans in New York city are under the influence of criminal activities since their parents are too much occupied in their work.
In conclusion, I believe that focussing on economic development has a little negative impact on families as compared to many benefits it can give to its societies in terms of quality health and education.
Most countries, around the globe; deem
economic
development as the best tool for improving their living standards;
however
, there are
people
who believe that
economic
growth leads to the loss of social values. In this essay, I am going to shed
some
light on the advantages and disadvantages of
economic
development.
It is
certainly
true that
developed countries
have
improved
people’s
way of living by providing enhanced standard of public services: health and education.
Improved
health care
helps
in increasing
people’s
life expectancy by treating
dangerous
diseases.
For instance
, Obama Care, in America, provides better medical facilities to its citizens and
also
does research and development for discovering better and
cheap
medicines.
Furthermore
,
improved
educational standards can give the
people
a greater diversity of
skills
and a broader mindset. To exemplify, in my knowledge, I have learned that education
is accounted
an
important
medium for prosperity and happiness of a nation.
However
, 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
higher
economic
growth is
directly
proportional to long hours of
hard
work. Its
first
negative
impact will be that the
hard working
parents will not be able to spare precious time for their children;
hence
, children will
eventually
get
involved in
anti social
activities.
For instance
, the children of African-Americans in
New York city
are under the influence of criminal activities since their parents are too much occupied in their work.
In conclusion
, I believe that focussing on
economic
development has a
little
negative
impact on families as compared to
many
benefits it can give to its societies in terms of quality health and education.