Economic growth is a sphere that receives more attention than any other national domain in many states all over the world. The principal benefits of this phenomenon are lower unemployment and wealthier citizens, and the main downsides are higher costs of living for most and insufficient support for the poorest.
On the one hand, what makes that prioritizing economic expansion is beneficial for the public is the fact that fever residents remain unemployed. This is because governments boost establishing various businesses, which will require many workers to operate. In addition, not only does a country become more powerful economically, but also many residents have an opportunity to become affluent. When companies generate more profit, it reflects how much money employees can make. In Poland, for example, 30 years after communism collapsed, average salaries offered for a middle-management position have tripled.
On the other hand, as a country’s economy thrives, costs of living increase. The most compelling reason for that could be the fact that since workers are paid more , their services become more expensive, which results in higher prices of many products. Moreover, in many cases, a state whose main priority is its economy offers little support for those who need it. If authorities believe that a strong economy is of the greatest importance, they are rather reluctant to offer help to those who do not contribute to the nation’s prosperity. To illustrate, when Donald Trump, who was a big advocate of a strong economy, became the president of the USA, the funds for jobless migrants were caught.
In conclusion, as with anything in life, prioritizing economic growth by authorities has its pros and cons. While more have jobs that allow them to become wealthy, costs of living are going up, and those who need to rely on the social care system are marginalized.