ArtsAutosBooksBusinessEducationEntertainmentFamilyFashionFoodGamesGenderHealthHolidaysHomeHubPagesPersonal FinancePetsPoliticsReligionSportsTechnologyTravel

Evils of Money

Updated on November 11, 2013

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.

Comments

    0 of 8192 characters used
    Post Comment

    • profile image

      Avi 

      2 years ago

      Ruchira

      I will only say that every coin has two sides.

    • profile image

      nitin gupta 

      4 years ago

      money is both developer and destroyer of our cuontry.

    • Iamsam profile imageAUTHOR

      Helna 

      5 years ago

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

    • Ruchira profile image

      Ruchira 

      5 years ago from United States

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

      interesting hub!

    • barbergirl28 profile image

      Stacy Harris 

      5 years ago from Hemet, Ca

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

    • Peggy W profile image

      Peggy Woods 

      7 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.

    • fibo777 profile image

      fibo777 

      7 years ago from UK

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

    • Iamsam profile imageAUTHOR

      Helna 

      7 years ago

      Thanks nextstopjupiter for your kind visit and comment.

    • nextstopjupiter profile image

      nextstopjupiter 

      7 years ago from here, there and everywhere

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

    working

    This website uses cookies

    As a user in the EEA, your approval is needed on a few things. To provide a better website experience, hubpages.com uses cookies (and other similar technologies) and may collect, process, and share personal data. Please choose which areas of our service you consent to our doing so.

    For more information on managing or withdrawing consents and how we handle data, visit our Privacy Policy at: https://hubpages.com/privacy-policy#gdpr

    Show Details
    Necessary
    HubPages Device IDThis is used to identify particular browsers or devices when the access the service, and is used for security reasons.
    LoginThis is necessary to sign in to the HubPages Service.
    Google RecaptchaThis is used to prevent bots and spam. (Privacy Policy)
    AkismetThis is used to detect comment spam. (Privacy Policy)
    HubPages Google AnalyticsThis is used to provide data on traffic to our website, all personally identifyable data is anonymized. (Privacy Policy)
    HubPages Traffic PixelThis is used to collect data on traffic to articles and other pages on our site. Unless you are signed in to a HubPages account, all personally identifiable information is anonymized.
    Amazon Web ServicesThis is a cloud services platform that we used to host our service. (Privacy Policy)
    CloudflareThis is a cloud CDN service that we use to efficiently deliver files required for our service to operate such as javascript, cascading style sheets, images, and videos. (Privacy Policy)
    Google Hosted LibrariesJavascript software libraries such as jQuery are loaded at endpoints on the googleapis.com or gstatic.com domains, for performance and efficiency reasons. (Privacy Policy)
    Features
    Google Custom SearchThis is feature allows you to search the site. (Privacy Policy)
    Google MapsSome articles have Google Maps embedded in them. (Privacy Policy)
    Google ChartsThis is used to display charts and graphs on articles and the author center. (Privacy Policy)
    Google AdSense Host APIThis service allows you to sign up for or associate a Google AdSense account with HubPages, so that you can earn money from ads on your articles. No data is shared unless you engage with this feature. (Privacy Policy)
    Google YouTubeSome articles have YouTube videos embedded in them. (Privacy Policy)
    VimeoSome articles have Vimeo videos embedded in them. (Privacy Policy)
    PaypalThis is used for a registered author who enrolls in the HubPages Earnings program and requests to be paid via PayPal. No data is shared with Paypal unless you engage with this feature. (Privacy Policy)
    Facebook LoginYou can use this to streamline signing up for, or signing in to your Hubpages account. No data is shared with Facebook unless you engage with this feature. (Privacy Policy)
    MavenThis supports the Maven widget and search functionality. (Privacy Policy)
    Marketing
    Google AdSenseThis is an ad network. (Privacy Policy)
    Google DoubleClickGoogle provides ad serving technology and runs an ad network. (Privacy Policy)
    Index ExchangeThis is an ad network. (Privacy Policy)
    SovrnThis is an ad network. (Privacy Policy)
    Facebook AdsThis is an ad network. (Privacy Policy)
    Amazon Unified Ad MarketplaceThis is an ad network. (Privacy Policy)
    AppNexusThis is an ad network. (Privacy Policy)
    OpenxThis is an ad network. (Privacy Policy)
    Rubicon ProjectThis is an ad network. (Privacy Policy)
    TripleLiftThis is an ad network. (Privacy Policy)
    Say MediaWe partner with Say Media to deliver ad campaigns on our sites. (Privacy Policy)
    Remarketing PixelsWe may use remarketing pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to advertise the HubPages Service to people that have visited our sites.
    Conversion Tracking PixelsWe may use conversion tracking pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to identify when an advertisement has successfully resulted in the desired action, such as signing up for the HubPages Service or publishing an article on the HubPages Service.
    Statistics
    Author Google AnalyticsThis is used to provide traffic data and reports to the authors of articles on the HubPages Service. (Privacy Policy)
    ComscoreComScore is a media measurement and analytics company providing marketing data and analytics to enterprises, media and advertising agencies, and publishers. Non-consent will result in ComScore only processing obfuscated personal data. (Privacy Policy)
    Amazon Tracking PixelSome articles display amazon products as part of the Amazon Affiliate program, this pixel provides traffic statistics for those products (Privacy Policy)