Helna is a postgraduate in Commerce who now working as a Manager and also love sharing informative information with her readers.
Evils of Money Means Improper Use 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:
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.
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.
This content is accurate and true to the best of the author’s knowledge and is not meant to substitute for formal and individualized advice from a qualified professional.
© 2011 Helna
Sujeetkumar on September 28, 2020:
The money has three evils
. economic evil
Sujeet kumar on September 28, 2020:
Yes coin has two sides the developer and the destroyes
Avi on June 05, 2016:
I will only say that every coin has two sides.
nitin gupta on November 18, 2013:
money is both developer and destroyer of our cuontry.
Helna (author) on October 21, 2012:
Thanks Barbergirl and Ruchira for your kind visit and encouraging comments.
Ruchira from United States on October 19, 2012:
i agree...money sure brings out the worst in man.
Stacy Harris from Hemet, Ca on October 19, 2012:
Very interesting hub. I guess it just goes to show that money is a necessary evil!
Peggy Woods from Houston, Texas on February 28, 2011:
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 from UK on February 22, 2011:
I agree that money is not the source of evil. The love of money is. Money is neutral. People are not. Thanks for sharing.
Helna (author) on February 16, 2011:
Thanks nextstopjupiter for your kind visit and comment.
nextstopjupiter from here, there and everywhere on January 29, 2011:
Money became a tool for the banking system and the financial industry to rule the world.