In the contemporary era, some nations have a greater focus on economic growth, contributing to enhancing the quality of life for their residents, resulting in the gradual dismissal of vital societal values. From my standpoint, I do perceive that while the consequence of this development may bring numerous drawbacks, the overall impact is tremendously beneficial for the government and dwellers.
On the one hand, developing the economy causes a concerning consequence: the dismissal of social value. Rapid modernization can lead to the displacement of traditional cultures and lifestyles as global or modern practices are adopted. In the fast-paced economic environment, people have a tendency to follow new cultural trends, or new lifestyles which are not appropriate to the traditional values before. Consequently, vital social values that have been preserved among numerous generations are gradually being lost.
On the other hand, I firmly believe that there are some major benefits associated with the progression of the economy. It is undeniable that economic development means the authorities will have more capacity for constructing and improving infrastructures, including roads, transportation systems, schools, and health care facilities, to ensure a high quality of life for residents related to the material. From that, the dwellers will have more job opportunities with high salaries, contributing to meeting basic needs and enjoying a comfortable life. Economic development generally increases the wealth of a country, leading to higher living standards and enormously reducing the poverty rate.
In conclusion, despite the fact that economic growth could cause the loss of vital social values for the country in preserving and retaining beautiful traditions, I am convinced that this improvement would bring more benefits in health, education, and higher living standards for the inhabitants in the long run.