In this day and age, it is argued that improving living standards through the development of the economy is a priority aim in most nations, while other people believe that core social values will be lost soon. Personally, I totally agree that the benefits of this phenomenon outweigh the drawbacks due to some of the major reasons that are further elucidated in this essay.
Undeniably, there is one rationale that supports the view that the improvement of living standards is essential in today’s society. Along with economic advancement, people will receive more welfare and facilities that support their lives. The USA, for instance, provides a variety of benefits from the welfare system such as higher retirement pension and unemployment benefits for its people, not only that the government also improves more public facilities for their citizens, particularly in medical services and public transport for elderly people who have dedicated their lives for the nation, which make them more believe in the governmental system. Furthermore, advancing in economy will also enable one nation to expand its diplomatic relations with other countries. For example, Vietnam in recent years has been paid attention to by other powerful countries such as The USA and Korea because of its developing economy, so they will seek more opportunities to invest in Vietnam’s commercial market to make a profit, which enables this country to expand its commercial goods and improve the living standards through foreign trades.
On the other hand, denying the loss of core social values is unacceptable because social values are the obvious way to see how one nation operates through its citizens’ behavior and inherent cultures such as open communication with foreign visitors and ancient traditions; however, if governments spend more expenditure on maintaining these traditions without concentrating on the economic advancement, their people will incur the negative effects from the economic depression in recent years such as the cutting labor workforce of the company due to the shortage of investment and lack of the government’s supports.
In conclusion, I believe that the benefits of focusing on developing the economy outweigh the negative effects of losing vital value in society because the government will support their citizens more through the welfare system compared to those countries that concentrate on maintaining social values.