Improving the standard of living based on economic development is going to be popular in the majority of countries, which leads to loss of social values. However, benefits can manage dozen of obstacles for each country leading to economic progress.
There are several advantages of having rapid economic growth to fulfil human needs. First, it could increase the consumption of goods and services which is related to utility, with higher consumption levels, there is greater prosperity. Moreover, public services for society would be improved, including health and education. It can be said that the government could provide the highest quality of health care by treating disease and assuring life expectancy. Also, improving the educational standards could contribute to the population a great diversity of skills and literacy. By this means, economic development becomes essential to most countries for welfare and happiness.
Nevertheless, 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 high economic growth is directly creating injustice among the poor and rich community. This imbalance would partially impact the social discrepancy. Besides, humanity and morality also would be lower since they only depend on materialistic that refer to disrespect to the poor member. For instance, the wealthy community could not have any tolerance to build a relationship, such as helping the poor people as one of the social values too, other than economic aspect.
In conclusion, the staple movement of a country as economic value for standard living, including the increment of consumption and public services that are needed by a number of countries, have not more long-run value than humanity and moral aspects. I believe that the benefits of economic growth could merely belong to the rich community, and it is not assuring the poorer inhabitants to have prosperity too.
Improving the standard of living based on
economic
development is going to be popular in the majority of
countries
, which leads to loss of
social
values.
However
, benefits can manage
dozen
of obstacles for each
country
leading to
economic
progress.
There are several advantages of having rapid
economic
growth to fulfil human needs.
First
, it could increase the consumption of
goods
and services which
is related
to utility, with higher consumption levels, there is greater prosperity.
Moreover
, public services for society would be
improved
, including health and education. It can
be said
that the
government
could provide the highest quality of health care by treating disease and assuring life expectancy.
Also
, improving the educational standards could contribute to the population a great diversity of
skills
and literacy. By this means,
economic
development becomes essential to most
countries
for welfare and happiness.
Nevertheless
, 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
high
economic
growth is
directly
creating injustice among the poor and rich community. This imbalance would
partially
impact the
social
discrepancy.
Besides
, humanity and morality
also
would be lower since they
only
depend on materialistic that refer to disrespect to the poor member.
For instance
, the wealthy community could not have any tolerance to build a relationship, such as helping the poor
people
as one of the
social
values too, other than
economic
aspect.
In conclusion
, the staple movement of a
country
as
economic
value
for standard living, including the increment of consumption and public services that
are needed
by a number of
countries
, have not more long-run
value
than humanity and moral aspects. I believe that the benefits of
economic
growth could
merely
belong to the rich community, and it is not assuring the poorer inhabitants to have prosperity too.