Please review my Task 2 essay. Thank you

Many countries aim to improve their living standard by economic development, but some important social values are lost as a result.
Do you think the advantages of economic development outweigh the disadvantages.

In the past decades, several countries are developing rapidly. Some people feel that economic development leads to deterioration of social values in society. This essay will examine the pros and cons of economic development and its impact on social values.

To begin with, I believe that with the increase of incomes of the population brought about by the economic success in several nations, many people are becoming materialistic and view life according to financial capability. In other words, a person's worth is valued based on how much money he amassed and not on the good deeds he has done in the world. To point this out, a successful man usually means someone who is a millionaire, owning mansions and various supercars. Seldom do we see people getting praised for being charitable nowadays. Indeed, improved living standards have made some social values obsolete.

However, it cannot be denied that the improvement in the economy has brought several benefits to the people, particularly in the third world, where in several years ago, the majority of people were living under the poverty line. Now, the government's money gained from increased revenue has improved literacy and sanitation. Education has become accessible to the majority of the people. The public health system also has received substantial funding for the prevention and treatment of many diseases, resulting in higher life expentacy of the people. Thus, given these advantages , it is no wonder why worries about the lost of fundamental social values are given less focus and importance.

In conclusion, the advantages of economic development are so numerous that they outweigh its drawback in relation to social values. Personally, I would not want social values to lose significance in our society, but this is something we need to sacrifice in order to improve our lives.