Economic growth is beneficial for people and societies | Band 8 IELTS essay sample
Economic growth and development are usually considered to be beneficial both for individuals and for society as a whole.
What are some advantages and disadvantages of economic development?
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Band 8 IELTS essay sample
There is no doubt that economic growth and advancement benefit both the citizens and the society. However, like most other scenarios where good things are associated with a few bad impacts, this development also has some disadvantages. In this essay, I’m going to discuss the positive and negative aspects of this economic development.
Firstly, economic development offers lots of benefits to people. This development generates more jobs for the people and improves their standard of living. For example, with the establishment of industries like pulp, car manufacturing etc., more opportunities have arisen for both skilled and unskilled workers resulting in a stable progress of all sections of the society. By contrast, stress levels also increase when competition for jobs heats up. Consider the IT and manufacturing industries which play a key role in economic growth. Unfortunately, because of the cut throat competition existing in these fields many employees report work related anxieties and health problems.
Economic development benefits the society as well. As the development advances, infrastructure and facilities for the public improve. For example, better health care is provided for people resulting in an increase in the average life expectancy of the society.
Despite these positives, economic development has a number of downsides as well. For ex-ample, as earnings increase, the number of people owning cars also increases. This leads to traffic congestion in cities and makes traveling difficult. Economic development also leads to pollution. Industrial waste is another byproduct of economic development. Factories dump their waste into marine bodies like seas, rivers and lakes and thus impact marine life and reduce groundwater quality.
In conclusion, economic development leads to more job opportunities for people and better infra-structure and facilities. However, development can also damage the environment and increase the stress levels of people.