Most countries aim to improve their standard of living through economic development but important social values are lost

There is a direct proportionality between economic development of the country and the standard of life that it gives its citizens. Few people are of the opinion that while the country focuses on becoming developed, crucial values are lost in the process. Even though, this might be true to an extent, I feel there are far more advantages than drawbacks to this. With all the dedication that goes towards economic development, few values that are required for social well-being can go off-track at times. To exemplify, long working hours of parents could lead to them spending fewer hours with their children. Children watching their parents put in intense efforts in earning money, can eventually only relate to materialistic aspects of life. On the other hand, to talk about a few advantages, when the country strives to excel economically multiple job prospects are created, quality of educational institutions will be improved and investment in health care infrastructure and public safety will be maximised. Results of these are lower unemployment rate, increase in the country’s literacy rate creating highly educated individuals and healthy and safe environment for people. All these factors are equally important in helping the country develop economically. To conclude, even though there are a few drawbacks, advantages have an edge in this matter. Perception of good standard of life differs from person to person. In my opinion, improved quality of life is certainly an outcome of economic development.