There is an ongoing debate about whether economic progress is a single way to measure a country’s development while others argue that other factors should be accounted for when measuring the success of a country. This essay will discuss what the factors are and analyze whether there is a factor that is more vital than the others.
There are several factors to measure the success of a country. One primary factor is the quality of life. Economic measurements such as GDP only focus on the income of the country, and the total salary of the population not the level of education, housing, or healthcare. For example, countries such as Norway and Finland are always highly ranked on the HDI (Human Development Index) because of the quality of their education system, healthcare, and social welfare systems. Another measurement is environmental sustainability. In today’s fast-paced world environmental problems become pivotal for all countries in spite of their economic status and wealth, countries such as Germany, have more pronounced green and eco-friendly products that are proof of making the balance between economy and environment lead to nation’s success.
It is said that the economy is vital while some people argue that human beings prioritize over others. Many examples of developed countries, such as China and the USA, have higher rates of suicide, crime, and poor air quality, not guaranteeing their population’s health and happiness regardless of their high GDP rates. If countries do not invest in health, education, housing, and social welfare or even do not have a budget for these kinds of things, they will not provide people with food and basic needs. Thus, there is no foremost factor or priority over others while the economy acts as a facilitator for the prosperous future of countries.
In conclusion, for measuring a country’s success we should not focus only on GDP altogether we do the quality of life and economic sustainability. Even though the economy becomes the vital point of success, there are other factors that are components of success such as equality, ecological sustainability of society.