These days, there is a growing debate about whether economic growth is the only way to measure a country’s prosperity. While I acknowledge that economic development play a vital role in improving people’s quality of life, I firmly believe that there are several factors that are equally significant.
The main reason why I believe economic growth is important is that it can noticeably improve citizens’ living standard. The rationale behind this is that when a country is financially successful, the government will have enough money to increase funding for different essential aspects. To put it more simply, national economic success enables its people to enjoy a higher level of education, entertainment and social security. A telling example of this can be seen in Switzerland where citizens are provided with free education, health care and different types of insurance using the government budget. Hence, it is undeniable that financial aspect is extremely crucial in evaluating a nation’s success.
On the other hand, it is hard to deny that economic progess alone cannot present a nation’s overall well-being. This phenomenon is primarily rooted in the fact that a country’s long-term prosperity is decided by various facors. Were it not for well-organized education system, high-quality health care and impartial legal system, a country would suffer from widespread illiteracy, constant pandemics and rising number of criminals. Therefore, falling to maintain these aspects could potentially result in the failure of a country, causing its people to suffer immeasurable consequences.
In conclusion, although economic situation can partly determine the success level of a region, other aspects such as education, military and healthcare system are proportionally crucial. To sum up, for the aforementioned reasons, it is clear that while boosting the national economy is essential, the government must also emphasize on improving the residents’ quality of life.