In this era of globalization, economic boom happens in many developing as well as developed countries which advances the living standard of individuals. As a result, this progress, the social ethics and cultures which is protected by generations are lost. In this essay, I would like to highlight the positive and negative of this topic in the following paragraphs.
On one side, the increment in the financial situation generates safe and sound conditions for the betterment of people. Furthermore, the economic increase in different countries help them to achieve worth and dignity in many situations. For instance, if we take the case of USA, it is a developed country with largest industrialization and economic stability. Similarly, their standard of living and the way people earn and spend their living are different from the other developing countries. This is main mainly because, they are fully equipped with technology, funding, infrastructure and health care system. If there is an increase in financial sources, then the health care sector and related faculties can be ameliorated to a great extent there by helping the general public.
On the other side, Commerical burgeon creates loss of ethics and traditional values that people hold for generations to generations. For example, take the case of London, the financial projection in the London city created massive disrespect in the minds of the whole society. In addition to that, ethics like honesty and trust were lost during the progression process which led to disharmony between the individuals.
To summarize, economic progress helps society to build a salubrious environment for the populations. But sometimes this act affects the moral value of individuals which in turn creates a discontent in the society.