Some people think that if a country is already rich, further economic development will not result in its citizens being any happier. To what extent do you agree or disagree?
Some people argue that, for citizens of already wealthy countries, further economic advancement will not lead them to become any happier. I completely agree with this point of view because when a country’s economy is stronger, its workers will be likely to face heavier workloads and more severe income inequality.
A stronger economy could mean greater workloads. People in rich countries may be already happy with the lifestyles their current salaries are providing, and not want to work harder to earn more. However, to grow the economy even further, companies need to increase output and create innovation, which could lead to longer working hours. As a result, people may have less time left to enjoy their lives outside the workplace.
In addition, economic growth could widen the income gap. When businesses create wealth, the top management normally receives large raises or bonuses, whereas low-level workers see little or no increase in their wages. This is true whether a country is rich or not. For example, the online retail giant Amazon plays an important role in driving the world’s biggest economy America to become even bigger. Despite the company’s huge economic contribution, their warehouse workers only get paid 15 dollars per hour even though CEO Jeff Bezos’ net worth has been growing significantly. Such unfairness can only make a country less happy.
In conclusion, economic development would force employees to work harder and exacerbate income disparities. Therefore, I strongly feel that it would not increase the happiness of citizens of already wealthy countries.