Many people believe that a country’s welfare is best described by its economic condition, while others argue that states should mainly focus on public welfare, environmental preservation and social mobility rather than focusing solely on economic progress. While I acknowledge that economic performance is important, I agree with the latter view.
On the one hand, economic progress may indicate a country’s progress in some respects. When economy advances, it can offer a number of significant benefits, such as increased public funding and greater infrastructural opportunities, leading to betterments in the overall quality of life. For example, developed countries tend to invest more in public systems and services, which is often regarded as a country’s healthy monetary management and proper administrative system. Furthermore, other factors that play significant economic roles, including tourism or natural resources, can also enhance the country’s image in the global economy.
However, these cannot guarantee a country’s success in other meaninful aspects. For example, even if governments in some countries manage to generate a substantial amount of financial resources, they often fail to make noticeable improvements in essential public sectors, such as environmental conservation, education and healthcare, due to increased corruption levels or the ineffective allocation of the resources. This process might lead to diminished living standards or even social inequality and cause delays in solving environmental or infrastructural issues. Governments should ensure that individuals benefit equally from the opportunities brought by economic growth and that allocated resources complete intended goals.
In conclusion, although economic growth has undeniable advantages both to the general public and the competitiveness in the global economy, it should not be the main priority by states. Rather, governments should place greater emphasis on the effective management of the internal economy to benefit every citizen equally and navigate significant issues more sustainably.
