Money Is The Root Of All Evil Essay Spm 2016
It may cost more than $100 million, but many social problems could be alleviated with the creative infusion of cash. Compensating organ donors could increase the supply of organs and save thousands of lives annually. Paying opium farmers in Afghanistan and Latin America to grow something else could bring an even larger dividend in averted addictions and wars. And why not neutralize opposition to reducing carbon emissions by reimbursing coal miners, or the entire fossil fuel industry, for their losses?
A big impediment is our moral psychology. People hold certain values sacred, and the very thought of trading them off against other goods (particularly via money) is considered heinous. We see this in metaphors that equate financial transactions with moral treachery: sellout, buy off, mercenary, whore. In one study, Israeli and Palestinian extremists presented with a hypothetical peace deal were more opposed — indeed, incensed — when it was sweetened with cash compensation from the United States and the European Union.
Social problems can be alleviated with cash but a big impediment to doing so is our moral psychology: trading values against money can make people uncomfortable.
Fortunately, human cognition is flexible, and the taboo surrounding a transaction can be mitigated if the transaction is conceived in alternative ways. Life insurance was once considered an outrage because it places a dollar value on human life and allows wives to bet their husbands will die. The insurance industry reframed it as an act of responsibility by husbands, who would be fulfilling their duty to their families even when they were dead. People who are scandalized at the thought of paying organ donors in cash calm down when the compensation takes the form of tuition credits, health insurance or a retirement contribution.
As technology and globalization generate ever-greater surpluses while disrupting traditional livelihoods, the challenge of reallocating money for moral purposes will become more acute. If profits from self-driving trucks are shared with unemployed truck drivers, everyone wins. Negative income taxes, a guaranteed income and charities that give directly to beneficiaries are probably less corrupting than people think, and offer a pathway to enjoying the windfall of technological advances in the face of Luddites and isolationists — but only if we overcome the intuition that money is the root of all evil.
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Photo: Money is the root of all evil
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Money is the instrument of exchange, helping in buying and selling and also in fixing a value on things and commodities. It may be in metal or in paper. With the market getting more and more complicated, there are other negotiable instruments which are as good as the minted coins or the printed notes. Money gives purchasing power but this power is not absolute as it is on various factors. In such a case it is termed currency and according to their purchasing power they are termed hard, soft and weak. Though coins and notes are issued by the Government of the country, there is a limit to their minting.
Let us see why money is needed. It is simply because it helps the processor to buy things. The days of battering are gone though it is indirectly resorted to at international level. Money is helpful as a standard of price. Money helps the owner to have power not only in buying things but also in influencing many human activities. Money is used for good things such as using it to build a temple, a church or a museum. Great educational institutions can be built. Students can be helped by providing them with scholarships in furthering their studies. The Nobel Prize would not have been there but for the huge sum of money earned by Alfred Nobel.
Money can buy men as it does things. Thus money plays an important role in fighting and winning elections. Money mars men’s and women’s morals. It is the evil influence in corrupting people. “Sell out” is the new term used for bribery.
There are people who could do anything for the sake of money. Moneyed people can buy many things which the poor cannot do.
With the power of money, individuals as well as states can dictate terms. The Middle East countries have found new wealth because of their oil deposits and they have become a very powerful group.
This kind of power should not go to one’s head. One should remember that the money coming into him was by chance. He must not use it for evil purposes. But wherever there is evil there is usually money involved. Other motivating forces for evil action are jealousy, vengeance, hatred and so on.
Money is normally the fruit of labour. The question is how one spends that money. Great thinkers have suggested that one who has money enough and enough to spare must look upon himself as the trustee of the money and see to it that it is spent in a wise and useful way. There is nothing good or evil about money. It depends on how one puts it to. The same money which could help bring relief to the suffering million, can be used to build up armaments. The hope of getting money spurs one into action. The power decides how to spend the money. Money can be used morally or immorally. A morally strong man may not use money in evil ways and vice versa.
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