Page 85 - 2024-2025 Creative Writing

Balancing Economic Growth: The
Balancing Economic Growth: The

Importance of Education and Healthcare
Importance of Education and Healthcare

The government has three primary objectives when it comes to economic growth, including

“Full employment,” “Price stability,” and “high number of gross domestic products.”

These three factors can boost economic growth. Offering health services free of charge or

better quality of education might help the government to achieve its goals.

First of all, providing free medical services may lead to a healthy workforce. It is crucial

for the country’s productivity level. The healthier they are, the higher the gross domestic

products.

Secondly, providing free healthcare may reduce the death rate, but it could also create

financial strain on the government and taxpayers. It not only has some opportunity costs

but also leaves no money to spend on other important projects. Furthermore, the

government will be a monopoly in the medical field, resulting in work overload for doctors

and nurses, weakening the quality of health services.

On the other hand, increasing the quality of education has numerous benefits, such as a

skilled workforce. It is essential to have a skilled workforce, since they will have more than

double the productivity of unskilled workers. If the whole population is skilled, more

productivity can be produced, which means the capacity of an entire country will

drastically improve. With increased GDP, the country could export goods to other nations

which leads to an increase in demand for their currency, stabilizing prices or maybe

boosting the purchasing power of the currency.

The unemployment rate will eventually decrease as the population adapts more skills with

the knowledge they have gained. So, finally, satisfying 2 of those aims, increasing the

quality of education is essential and should be prioritized more.

D. Maralgoo 12A