In modern times, economic development in rich countries has become the subject of considerable debate. Some people contend that focusing more on economic wealth improvement can give rise to feelings of dissatisfaction among citizens, while others believe that economic development can play a pivotal role in providing a sustainable foundation for the country. From my view point, I partly agree with the view that additional increase in economic wealth can make the citizens unhappier.
To begin with, there are compelling reasons why government should prioritize other fields over excessive economic improvement when the country is already rich. Only by dealing with remaining problems such as environmental issues, poverty or social welfare rather than just focusing on the economy can government maintain an overall and sustainable development for the country. This could be exemplified by the country’s development plans in Japan, which totally focus on education and citizens’ satisfaction despite having a beneficial groundwork for additional economic development. Additionally, this orientation will contribute to changes in individuals’ lifestyles and habits, which place emphasis on intrinsic value rather than the materialistic lifestyle. This, in the long run, can pave the way for reducing current issues such as overconsumption or consumerism.
On the other end of the spectrum, while minimize excessive economic development is of crucial importance, maintaining a wealthy society remains necessary. Although it is often claimed that have too much money still could not buy happiness and life satisfaction. However, this perspective overlooks the fact that having a sustainable economy is a crucial foundation to induce other aspects from a practical view. Not only can a strong economy enhance overall sense of fulfillment but also it can allows citizens to crater for the basic needs such as daily expenses or bills. For instance, The U.S has always taken the leading position in economy enabling its citizens not to worry about poverty or the lack of financial resources since pension funds, educational fees or free welfare services are always fulfilled.
In conclusion, although focusing on other aspects to improve living standards is favorable, having a strong financial resources for individuals still serve as an reasonable approach for a rich country. It is high time governments had an equitable investment in various aspects depending on the country’s needs, since a combined approach would yield the most beneficial outcomes