Economic growth has made some people richer


You should spend about 40 minutes on this task.

Present a written argument or case to an educated reader with no specialist knowledge.

Write about the following topic:

In recent time economic growth has made some people richer in both developed and developing countries. While studies show that people in developing countries are happier now than before, people in developed countries are no happier than they were before. Why do you think this is and what lessons can be learned from it?

Give reasons for your answer and include any relevant examples from your own knowledge or experience.

Write at least 250 words.

Sample Answer:

In recent years, economic growth has led to an increase in the wealth of some individuals in both developed and developing countries. However, studies have revealed an interesting trend – while people in developing countries seem to be happier now than before, there has been no significant increase in the happiness levels of people in developed countries. This phenomenon can be attributed to a variety of factors, and it offers valuable lessons for societies around the world.

One possible explanation for the disparity in happiness levels between developed and developing countries is the concept of relative wealth. In developed countries, the pursuit of material wealth and possessions is often prioritized, leading to a constant comparison with others. As a result, even as individuals become wealthier, they may not experience a corresponding increase in happiness due to the perpetual desire for more. On the other hand, in developing countries where basic needs are not always met, any increase in wealth can lead to a tangible improvement in quality of life, thus contributing to increased happiness levels.

Moreover, the impact of individualism versus collectivism on happiness cannot be overlooked. In many developed countries, there is a strong emphasis on individual success and achievement, which can lead to feelings of isolation and disconnection from others. In contrast, developing countries often place a greater emphasis on community and social connections, which can contribute to a greater sense of fulfillment and happiness.

From this phenomenon, there are valuable lessons to be learned. Firstly, it is important for societies to recognize the limitations of material wealth in contributing to overall happiness. Instead, there should be a greater focus on fostering strong social connections and a sense of community, as these factors have been shown to have a significant impact on happiness levels. Additionally, there needs to be a shift in mindset from individual success to collective well-being, as this can lead to a more sustainable and fulfilling form of happiness.

In conclusion, the disparity in happiness levels between developed and developing countries in the face of economic growth highlights the complex nature of happiness and the importance of social connections and collective well-being. By recognizing these factors, societies can work towards a more holistic approach to happiness that benefits individuals and communities alike.

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