What Is the True Measure of Progress for a Country: Economic Growth or Other Forms of Development?

Updated: Sep 25

Many governments think that economic progress is their most important goal. Some people, however, think that other types of progress are more important for a country.

Discuss both the views and give your opinion.

In some parts of the world, the state lays great emphasis on achieving high national income figures as it assumes it to be a true indicator of development. Nonetheless, some individuals point towards improvement in other areas, like education, health, etc. I will shed light on both views in the following paragraphs.

On one hand, the most reliable measure of any country’s growth is the national income and the per capita income. These figures present an absolute and practical measure that helps to draw comparisons between various years and economies. The higher the national income or economic growth rate, the better the standard of living of that nation. With this notion, economists in all parts of the world set plans to reach a set level of growth.

On the other hand, an economy cannot claim itself to be developed unless it ensures improvements in areas like health and education. A double-digit economic growth can be appreciated only when citizens are healthy and educated. Moreover, a high population will lead to a small per capita share, negating the impact of high gross domestic income. In addition to the above, evils like income inequality, poverty, crime, infant mortality, etc. must be addressed for raising a healthy society.

From my perspective, any nation aiming at creating a developed society has to strike the right balance between monetary growth and social development. To set a sustainable path of progress, other indicators of social well-being ought not to be ignored.

In conclusion, to attain balanced growth in all areas of social and human development is a statutory obligation. Economic progress alone cannot be a true indicator of growth.

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