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Economic development creates a social and cultural development. To define: Economics can be defined as the branch of knowledge concerned with the production, consumption, and transfer of wealth and development is defined as the process of developing or being developed (Oxford Dictionary). So if we put those two together, economic development can be described as the development of production, consumption, and transfer of wealth. Social is defined as the hierarchical structure of society and cultural is defined as the ideas, customs, and social behavior of a society (Oxford Dictionary). If this is the case, I argue that the development of production, consumption, and the transfer of wealth create the hierarchical structure, ideas, customs, and the social behaviors of a society.
"People of all grades converted their property into cash, and invested it in flowers. Houses and lands were offered for sale at ruinously low prices, or assigned in payment of bargains made at the tulip-mart." (Business Foundations, PG 104) Property would be considered apart of whom you are, one is often judged by where he lives and what he owns.
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"The Reality Of The Strain Economics." 123HelpMe.com. 12 Nov 2019
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I liken my theory to this game of Pharaoh (Impression Games) In the computer game, you are the simulated ruler of a colony, then a city, and eventually you become a Pharaoh, ruler of a nation. While you are playing the game, you have several necessities that you must take care of. If there are too many people, and therefore unemployment, you need to either destroy homes or build more places for the people to work. If there is too little people and therefore, businesses not having enough workers, you must build homes. During times of unemployment, there is not a great need for entertainment (juggling booths) or culture (shrines or places or worship) and if you build them, often times they will go unoccupied. If there are enough jobs for everyone, you will get notice that if you do not have enough for the people to socially or cultural take part in, the people will start to not like you and eventually rebel. This is also true if unemployment rates run high and no new jobs are created.
"Because the society sets great store by ability to produce a high living standard, it evaluates people by the products they possess." (Business Foundations, PG 111) When I lived in Idaho, I accumulated a small amount of money- so small to be considered poverty level. That was okay because the standard of living in Idaho is drastically different than here in Salt Lake City. If I made the same amount of money living here in Salt Lake that I accumulated in Idaho would be unfathomable. When a nation or country is rated economically (for example: a third world country), it is usually rated upon what kind of convinces the people have to take advantage of and what the people do for fun. For example, Afghanistan, is considered a third world country, yet would you see them going out and purchasing a third television for their daughters room or taking a summer vacation to Hawaii? I do not think so.
In conclusion, no matter what the state your countries economics is in, how the person reacts towards their social and cultural needs is purely based on the person himself or herself although economics would definitely place a strain on enjoying social or cultural events. If culture is important to the person, then that its where the emphasis will be placed, if it is a social aspect that is important then that is what will be improved upon but without appropriate economic support, it would be impossible to enjoy either to their fullest extent.