Characterized by a primary focus on economic considerations, values, and principles. This approach prioritizes economic growth, efficiency, and profitability above other factors, such as social welfare, environmental sustainability, or ethical concerns. It often involves policies and decisions driven by the perceived benefits to the economy, sometimes to the exclusion or detriment of other aspects of society. An economy-centric perspective can manifest in various fields, including business, politics, and urban planning.
Economy-centric meaning with examples
- The corporation's economy-centric strategy prioritized maximizing shareholder value, even if it meant outsourcing jobs to countries with lower labor costs and less stringent environmental regulations. This focus, although profitable, drew criticism for its social impact. The company ultimately found itself the subject of protests and boycotts.
- Critics argued that the government's economy-centric policies, such as deregulation and tax cuts for corporations, disproportionately benefited the wealthy and contributed to growing income inequality. They claimed the government was ignoring vital community programs. Those measures worsened the quality of life for the average citizen.
- The city's economy-centric urban development plan favored high-rise construction and commercial zones over green spaces and affordable housing, leading to increased congestion and displacement of long-term residents. The focus on profit did not account for social considerations. This plan was met with protests and petitions.
- In the wake of the pandemic, the government faced criticism for its economy-centric approach to reopening, which prioritized the resumption of business activities over public health concerns. Public health experts warned this may worsen the spread. These choices had a devastating impact on the population.