Whilst a number of government officials underscore the importance of economic growth as their main objective, others advocate that attention should be equally apportioned among all types of development. There are rational arguments on both sides of this contentious topic which will be discussed in detail, followed by my own take on the matter.
On the one hand, there are those reasoning that economy is the cornerstone of a flourishing nation and therefore any development in this respect has far-reaching effects on other areas as well. That is to say, inextricably intertwined with other aspects of life, economy is believed to be of central importance. This is amply illustrated by the fact that economic vitality will automatically give rise to employment opportunities on the job market. Moreover, another justification is that economy is the sole criterion for measuring success when a regime’s achievements are concerned. This is mainly because of the masses’ raised materialistic aspirations and the significance they attach to materialism.
On the other hand, the opposing view asserts that making headway towards other accomplishments of equal value is just as necessary. The most compelling reason for their assertion is that failure in handling other equally pressing matters will cause a ripple effect, thereby impinging on national economy. Take international crippling sanctions imposed on politically isolated countries for example. Failing to launch international commerce, such nations are liable to witness a significant drop in their export revenues. Apart from that, national infrastructures may simply cease to function normally if shortcomings of the whole system are not addressed properly. In other words, a booming economy is by no means the only key factor defining a successful and accomplished nation.
To conclude, there are valid arguments on both sides of the controversy; on balance, however it is my firm conviction that attention should be paid to the improvement of all fields including politics since political chaos can have deleterious effects on a country’s economic status as well. (326 words)