Prompt: 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?

In recent years, several nations have been focusing on economic development to provide better living conditions to the public; however, many social values have been loosing while moving through this path. In my opinion, the advantages of economic growth are much more significant than the disadvantage. Ċ One of the disadvantages of financial progress is that people need to spend more time at workplaces to earn more money due to which they ought to give lesser time to their families and kids. This could lead to the loss of social values in children, and they are becoming stubborn and irresponsible. To illustrate, a study conducted by Columbia University, USA showed that there are 50% higher chance of juvenile delinquency in the children of working couples. Ċ On the other hand, there are many benefits associated with the economic development of a country. One such benefit is that governments can raise the expenditure in the health sector and provide better medical facilities to their citizens. This might reduce the burden on the public and help in keeping the population healthy. What is more, they would have a huge amount of funds to allocate to its education sector and making the learning easy for its youth. Moreover, if a country's youth is healthy and well-educated, then he/she would be the first choice for recruiting organisations and thus contribute towards its growth. For instance, Norway and Singapore are wealthy countries and have one of the best education and health infrastructures in the world which makes their people happy and prosperous. Ċ In conclusion, although the financial growth is beneficial to a nation in terms of improved health and learning facilities, it is important to consider that it might lead to loss of social values in individuals. To my mind, the advantages of economic progress always outweigh its disadvantages.