Miranda Beal
EEE 2083
In this day and age the abundance or lack of money has the potential to ruin someone's life. Whether that be having too much money and becoming greedy, or not having enough money and being left on the streets. Money has the power to completely alter someone's life. The question stands, is physical money evil? or does money have the power to make someone evil?
To answer this question, we must look at what money is. What does it mean in our economy? To entrepreneurs? To foreign countries?
What is Money?
Francisco d'Anconia defines it as a tool of exchange.(d'Anconia 1957, as cited in Rand, 2013).
"Money is the material shape of the principle that men who wish to deal with one another must deal by trade and give value for value." (d'Anconia 1957, as cited in Rand, 2013).
This statement by Francisco is very similar to something Bylund in his book "The Seen, the Unseen, and the Unrealized.
"In other words, money is useful --- that is, we consider it valuable --- because we know that we can offer it as a payment for goods that more directly satisfy our wants. (Bylund, 2016, p.17).
Bylund and d'Anconia dive deep into what money is to our economy. In chapter two of "The Seen, the Unseen, and the Unrealized" Bylund uses a made-up scenario to help us understand. He paints a picture of an apple farmer trading her apples for something she values more highly. This example shows that money is a means of exchange. It is not a physical good that can be used once it has been traded. Rather, it is a tool to use to exchange for something else that you consider holding a higher value. Like Bylund explains, instead of trading an apple for a can of Coke, and then that can of Coke for nails, then the nails for the loaf of bread, one could easily sell apples and use the money acquired to purchase the loaf of bread directly. Now there is no need to trade for items that hold no value to you. Considering this, it is up to the individual to determine if they value the item more than the money, they will be giving up in order to acquire it. Using Bylund example, if Adele would like to trade Adam one apple for his can of Coke and they both see more value with the item they do not have, then they can easily trade. However, if Adam believes that his Coke is worth 3 apples, Adele will have to determine if she agrees. And if she does not, she will have to find someone else willing to trade one can of Coke for one apple. Or she must find something else that Adam would like to have that she is willing to give up. (Bylund, 2016, p. 20).
To determine if money is the root of all evil, we must also consider if people would give up everything for it. Money will not always be more valuable than products or services. For example, I will happily spend $75 on a massage because it is a service that I enjoy. It holds more value to me than that $75 did. I would rather spend the money and feel refreshed and be in less pain for a week or so, than keep the money for later use and be uncomfortable and unhappy for that same amount of time.
Money and the Market
In chapter two of "The Money Confusion" Tamny explains how the German government intervened and gave out ration card cards after the war.
"The cards allotted 1,550 calories per day to each German, an amount woefully insufficient for health, let alone prosperity." (Tamny, 2022,p. 32).
She goes on to explain how this is considered a market restriction. making things harder to access by ordinary citizens creates a reason for the black market to emerge. (Tamny, 2022, p. 32). Money is extremely important to the people that "run" the black market. But they are willing to cut deals with other citizens because they know they will get more business by doing so. It is used to exchange goods that are illegal. At the time, the black market was selling meat and food at a high price but ration points were not needed. people valued the nutrients they would get from the meat and other foods more than the money they had at the time.
Money does not create the black market, but greed and anger definitely could.
The Tool or the Man?
If money is defined as a tool of exchange, then how can it be evil? Money itself cannot be evil. It is simply paper with ink. However, how someone uses money and how the possession of it can make an individual act can absolutely be evil. Money can cause greed, it can ruin relationships, and it can create power. An example of the greed money can cause is gambling. Many people have gambling addictions, and it stems from the possibility of having more money you currently have. But you must be willing to lose money as well. Money is the reason for many failed marriages. It causes tensions and arguments that can lead to larger issues. It can give people a false sense of power, permitting individuals to do things that they would not do otherwise. For example, people have cheated our justice system repeatedly. Either by paying to keep victims silent or escaping the country with the millions of dollars they have.
Money does not make someone evil and money itself is not evil. The potential evil that someone already possesses is enhanced by money. Money does not corrupt people, rather it shows someone's true intentions. It brings out the worst in people, but isn't the worst what you need to see?
References
Bylund, P. L. (2016). Chapter 2: The Price Is Right. In Seen, the unseen, and the unrealized: How regulations affect our everyday lives (pp. 15–26). essay, Lexington Books.
Rand, A. (2020, April 13). "Francisco's money speech" by Ayn Rand. Capitalism Magazine. Retrieved February 24, 2023, from https://www.capitalismmagazine.com/2002/08/franciscos-money-speech/
Tamny, J. (2022). Chapter 2: The Meaning of Stable Money. In The money confusion: How illiteracy about currencies and inflation sets the stage for the Crypto Revolution (pp. 29–41). essay, All Seasons Press.