many countries in this world aim to improve the standard of living of their people through economic development. as a result, many important social values have been lost in this process over a period of time.
I strongly believe that the advantages of economic development outweigh the disadvantages.
Many social values, which are passed down from many generations, have been lost as a result of economic development. Relations between people and communication between people can also be destroyed or disrupted in the process of pursuing a better standard of living. The world will become very materialistic, focusing on materialistic things. For example, the formation of nuclear families, migrating to different places in my country leading to the negligence of old aged parents who are suffering from diseases. Meetings with relatives and family went from once in 3 months to once in 3 or 4 years.this created distance between people.
Still, improving the standard of living through economic development is best because it reduces poverty in the country. Oppression towards particular groups of people in the country based on color, caste, or religion decreases considerably with economic development. With economic development grows education which will enlighten people and make them take rational decisions, which will improve the community and society. Importantly, most people will no longer worry about food and healthcare and make their dreams come true with the help of economic development.
In conclusion, even though I believe that social values are being eroded with economic development, the advantages of economic development still outweigh the disadvantages on many fronts.