Evils of Money

Evils of Money

Invention of money has not proved to be an unmixed blessing as its use has become a source of so many evils too.  If money is not used properly, it can create havoc and may prove to be disastrous for the mankind.  Some of the evil effects of money are giving hereunder:

Economic Defects

A.  Use of money has given rise to greed and exploitation of poor which has resulted in greater inequalities of incomes and wealth.  History shows that it is the economic exploitation that triggers any social upheaval.

B.  By facilitating Borrowing and lending, money may encourage over-capitalization (i.e. using too much capital in place of labour) in production, thereby creating large scale unemployment in the economy.

C.  Money helps in extending the scale of production, which after certain limits may result in a situation where production far exceeds the demand.  This leads to fall in level of prices, unemployment, decline in incomes and thereby misery for the masses.

D.  When a government/Central bank increases the supply of money by simply printing new notes, it leads to sharp rise in prices.  This adversely affects the purchasing power of fixed income groups in the society.  Resulting in class conflicts and social disorder.

Social Defects

i)  Money has encouraged many kinds of anti-social activities like gambling, fraud, robbery etc.

ii) It Makes people greedy and acquisitive

iii) It encourages tendencies of exploiting others.

However, it cannot be denied that most of the evils listed above arise because of improper use of money.  These are not evils of money itself.  Hence, there is a greater need to use money as a faithful servant than become slaves of money and invite troubles.  It has been rightly remarked that money which has been source of so many blessing to mankind becomes a source of peril and confusion unless we control it.

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Comments 9 comments

nextstopjupiter profile image

nextstopjupiter 6 years ago from here, there and everywhere

Money became a tool for the banking system and the financial industry to rule the world.

Iamsam profile image

Iamsam 6 years ago Author

Thanks nextstopjupiter for your kind visit and comment.

fibo777 profile image

fibo777 6 years ago

I agree that money is not the source of evil. The love of money is. Money is neutral. People are not. Thanks for sharing.

Peggy W profile image

Peggy W 5 years ago from Houston, Texas

Truly money can be used for good or evil depending upon people's intent. If everyone followed the Golden Rule, this world would be a much better place.

barbergirl28 profile image

barbergirl28 4 years ago from Hemet, Ca

Very interesting hub. I guess it just goes to show that money is a necessary evil!

Ruchira profile image

Ruchira 4 years ago from United States

i agree...money sure brings out the worst in man.

interesting hub!

Iamsam profile image

Iamsam 4 years ago Author

Thanks Barbergirl and Ruchira for your kind visit and encouraging comments.

nitin gupta 3 years ago

money is both developer and destroyer of our cuontry.

Avi 8 months ago


I will only say that every coin has two sides.

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