Many people believe that as we move towards the economic advancement, social values are left far behind in this progress. Imagine a country with a lack of social values, it would be so chaotic to survive in that specific country. Likewise, an economically poor country also makes difficult for citizens to survive with a poor standard of living. The question arises whether the benefits of economice development outweigh the drawbacks. In order to address this question, we will have a closer look on inter-relation between economic and social development.
An economically stable country provides the citizens with the best public facilities. The standard of living in developed countries is much higher as compared to developing nations. Hence, economic advancement is very much necessary for the progress and growth of a nation. For example, Niger has one of the lowest GDP in the world, making it difficult for the people to benefit from good public and health facilities. The mortality rate in the country is very high and life expectancy is low due to poor economic conditions of the country.
For instance, Saudi Arabia is one of the richest nation in the world. Saudi Arabia is very stable in terms of economics. Per capita income is very high in this country. People are enjoying a high standard of living and can avaail best health facilities within the country. Despite of the economic stability, Saudi Arabia has never ignored their cultural and social values.