To begin with, economic development is a goal that numerous societies looking to improve their standard of living. Unfortunately, this often weaken various of social values. This changes the point of view that while economic growth can contribute to standard of living, it also ruin social harmony and values.
Indeed, economic improvement also has a positive side. It gives us jobs, increases incomes and goods and services. In fact, growing country level of poverty are likely to decrease while quality of life increases. In addition, an improvement can enhance technological and infrastructural that improve daily life. These creation show positive effects on education and community life as well, by helping citizens being more active in society.
However, this comes with a price. Because, focusing on profit can make people want more things, affecting the cultural values and social connections. As personal gain becomes the most important thing, there is a decline in community and helping each other. Environmental damage frequently comes with uncontrolled economic activity. Pollution and overuse of resources can affect health and the future, like in fast growing cities in developing countries where industrialization has caused in big environmental problems.
Values like empathy, solidarity, and shared responsibility are important for future development. Focusing only on the economy and ignoring these values can lead to weak communities.
In summary, it is true that economic growth can improve people’s lives, however, we should also consider its effect on social values. That is why government need to aim for growth so that they can help the economic stability.