The concept of money brings a lot of things to the table in our society. I used to think that money was just used for currency but after these articles and doing a little research, there are other purposes that money creates. But overall, I still think that money serves its main purpose is to be used for currency. This gives people the right purchase to spend it on their essentials. But there are other concepts that money brings. Money is also the most valuable thing when it comes to trading. People are “trading” money in order to get products or services from others. Before there was money, people would often trade products or services with each other in order to obtain of what they need or desire. “Before money was invented it was very common for people to trade animal skins, weapons and salt with each other instead of using currency.” (Beattie) This method turned out is valuable because people would value each other’s work in order to get what they needed. This process was called the fair trade method, which was when two sides would offer something valuable in exchange for the other person’s goods. Obviously this method probably wouldn’t work today in a first world country because people today value too many possessions and have nothing to offer in return. This is how currency was invented.
Nowadays people use money in order to obtain their essentials or pleasures. People now value money more then anything else. This is why every product and service has a price. Money gives people and organizations power. People with more money are generally the most successful people in our society. The concept of money also creates social classes there is the upper class, middle class and the working class. The more wealthy people are the higher their social status will be. People with the most money will be towards the upper class and people with the least money will be towards the working class. Money is also the key component in the stock market and job market. People in the stock market put up money towards companies and if the companies are doing well then the business will reward people with a percentage of their profits. People will also put up their services to work for various companies and businesses. In exchange for the services, the business will reward the people by giving them an annual salary. Money also gives people power to do various activities. People with the most money are generally the same ones that are in charge of businesses and other things. People who run businesses are the ones that are in the middle and upper classes. Money can also change how people think overtime. People who have more money can tend to think that are superior over every else in society. “Money can also has lead people to act immorally or lie to others after being exposed to a large amount of money.” (Gregoire ) Money has done more than just create currency; it has also made other things possible such as social classes, job and stock markets and can even change how people act and think towards one another.
Gregoire. Carolyn. How Money Changes the Way We Think and Behave. The Huffington Post. 6 January, 2014.
Beattie. Andrew. The History of Money: From Barter to Banknotes. Investopedia.