Some people argue that economic growth is mainly used as an indication of a nation’s wealth, while others say that other aspects should be taken into consideration such as education and environment. From my perspective, the importance of each contributor depends on the condition of each nation.
To begin with, there are two elements that should be considered when evaluating how successful a country is. Chief of these is education that plays a crucial role in a country’s development. To be more precise, a good education system might equip residents with necessary knowledge and skills. Focusing on producing a strong workforce in order to meet the high demand of a dynamic economy would contribute to the country’s properties. In addition, environmental indicators in the form of environmental preservation and sustainable resource management should be paid more attention for long term success of a country. The fact that natural resources in terms of minerals, forests or coal are limited, so responsible using natural resources and prioritizing producing alternative resources would ensure their availability for future generations.
However, what factor is most vital might be relevant to a country’s level of development. In underdeveloped countries, the economic indicators may tend to be the most important target. By minimizing the unemployment rate and fostering GDP increase may eliminate the poverty, leading to the better living standard of citizens in these countries. On the other hand, the wealthier countries, growth of which is associated with the cost of environmental exploitation, should prioritize non-economic indicators. Otherwise, the development in the long term might not be maintained due to the exhaustion of natural resources and the lack of well-prepared labor force, resulting in an unsustainable economy and society.
In conclusion, while enforcing the economy might be an important key for a country’s success, there are also other metrics that should not be overlooked. In my opinion, what factor is most prioritized depends on the development level of a country.
