Many governments believe that economic advancement is the key to success, while others opine that many other aspects such as green environment, social security, peace, and traditions and culture are more important. I personally believe that economic success could be an important goal for a government, but it is not the most important one.
On the one hand, proponents of the claim that economic advancement is of supreme importance say that with financial stability comes better standards of life and social security for its citizens. Without economic stability, a government cannot ensure advancement in education, defence, healthcare, international trade and social safety. Therefore, a government’s primary objective should be to take measures to achieve economic stability. This can be substantiated by the situation in countries like Sri Lanka and Venezuela, which witnessed the downward spiral of problems that emerged when they faced financial struggles.
On the other hand, those who oppose the idea of economic advancement being the most important goal for nations express that industrialisation and success in trade have ensured financial stability to many Western countries, and yet the environmental damage that has been caused is overwhelming. No good money would bring to a nation if it fails to build a safe and green environment for the next generation. Furthermore, economic progress alone does not guarantee social safety, peace and values. It is often observed that with industrialisation and rapid urbanisation, which are required for achieving economic advancement, the tradition and culture of a country get lost. Sometimes, peace becomes a distant dream for such nations while violence becomes common. This is evident from the guns related violence and casualty in affluent nations. So I believe that a government should prioritise social safety, peace, a greener environment and the preservation of its traditions and cultures to achieve sustainable development.
In conclusion, economic progress may be an important goal for a government but it should not get the highest priority as there are still many aspects that are equally or even more important than just economic development.
