An increase in economic wealth among rich countries somewhat is not seen to have a meaningful impact anymore. This means that citizens in rich countries are already wealthy and capable of fulfilling their basic needs without government assistance. However, I disagree with this view because an additional increase in economic wealth can be allocated for other important purposes, aiming to increase citizens’ overall satisfaction
Primarily, additional revenue received by the country is potentially used for improving public facilities, such as public transportation, hospitals, schools, nursing homes, and others. For example, developed countries like Singapore and Hong Kong are still improving their public transportation, even though most of their citizens are capable of affording private vehicles. The integrated public transportation provided by these countries offers convenience for citizens and can ease their daily activities, which in turn, citizens will be satisfied.
Another reason is that additional revenue can be allocated for establishing voluntary organizations and other similar community hubs. The establishment of these entities can persuade citizens to participate in activities related to charity. Participating in charity-related activities can give a sense of fulfillment and pride for some people. As an example, many pensioners are willing to engage in voluntary activities for the rest of their lives because they believe that money is not the sole factor that contributes to satisfaction.
In conclusion, I perceive that an additional increase in economic wealth still plays an important role in rich countries. This is because the additional increase in revenue of the country can be allocated for improving public facilities and establishing voluntary organizations, leading to citizen’s overall happiness.