In recent years, the cost of living has sharply increased in a number of countries. This essay will show main contributors of this trend and also highlight its adverse consequences for society.
The world is becoming more interconnected than it used to be. In other words, the majority of people are traveling to other countries with the purpose of studying, working and running businesses. Germany, England and the USA, can be an example for this statement as their populations have grown significantly compared to previous decades. This gradual growth is causing high costs in many sectors of society such as taxes, rental properties and communal services. In addition, the natural sources are being depleted with the rise of demand for fuel, organic materials and forest wood. This trend is often found with excessive number of production of goods in country The effects of this trend on society are profound.
Firstly, the high cost of living leads to increased stress levels among citizens, making them overworking and spending less time with their loved ones. As a result, the birth rate in these areas may fall. South Korea, for example is known for extremely long working hours This type of hard lifestyle is creating an ideology on teenagers that includes working to pay bills which is losing socio-economic chains among their peers and leading to isolation. In addition, high level of stress also leads people to addict on alcoholos which results growth in a number of suicides and crime rate. These both detrimental effects are also seen in South Korea. Moreover, high cost of living results in delay of certain life necessities such as marriage, education and retirement. People prepare more to finance those purposes with spending years.
In conclusion, increasing global mobility and the depletion of natural resources are key contributors to the rising cost of living. This development has serious consequences, such as increased stress levels, declining birth rates and delayed life choices, all of which pose long-term risks to social stability.