Money is the root of all evil

1 Timothy 6:10: "For the love of money is a root of all kinds of evil...” I'm almost certain that Paul did not mean this literally because it is not the root of all evil, but one of the many causes of evil. Due to this, I do not agree with the following statement 'money is the root of all evil'. However, if I tweak it a little, by changing it to 'money will be the root of all evil', I would argue that that is a true prediction. Please take note that for a monetary system to work, greed for money must exist, therefore money and the greed for money are fundamentally the same thing. One day, money will be the source of all evils, and we will no longer be able to rely on it, despite its efficiPncy.

Before I explain the disadvantages of money, we need to first understand the current trend of our economy, and how the role of money is changing within the last few decades. The trends of the economic systems of many nations are quite obvious: it is moving towards socialism. The rapid growth of China proves that a mix of both capitalism and communism is able to thrive economically. It also proves that a communist state is not always a failure and that it can co-exist with capitalism. The high levels of happiness and literacy rates of the Scandinavian nations are also worth a mention. Many of these nations adopted many socialistic policies and were able to achieve economic equality, yet strive economically in the world. It is very important to understand that many capitalist models that we adopt nowadays are getting less efficient and a solution is required. Within a short-term period, we will have to reform our system to provide greater flexibility and complexity for our society.

The role of money changes as well in recent times. As time passes by, the 'value of money' itself is increasing and the power of money is growing stronger. One of the most obvious changes is the ability to acquire happiness with money. As of now, money can gain you some degree of happiness, like buying your favourite album or visiting your dream nation. In the past, most people couldn’t do either because there was limited use for money. Still, as of now, money can't buy you pure happiness. You can't really earn real friends or a sincere lover with money because money can't buy you pure happiness. However, this may change in the future as it is very likely that the 'value of money' will increase to a point where you will be able to 'buy' relationships. There is no guarantee that money will not be able to buy pure happiness in the future, but if it actually happens, happiness will become worthless and purposeless.

The two points mentioned above are actually related. Happiness is becoming worthless because of capitalism which makes consumers money-orientated and self-interested. In this sense, assuming we are not moving towards socialism, someday in the future, everything that we do will be driven by the increased greed for money. Someday, all the evils and sins that we do will be caused by the greed of money, instead of the greed of satisfaction, honour, pride or fame. Even if we move towards socialism, the problem will be delayed, but it will still be there, because of, well, many reasons that I will explain further.

Money's role is as a medium of exchange, but most people nowadays treat it like a necessity of life, like water. This is very dangerous because money is not a biological need, it is not necessary, but it has been treated as if it is necessary. A person's greed for money is nearly infinite while greed for biological needs is finite, you can't eat an infinite amount of food. It is because of this reason we have 'infinite' amounts of luxurious goods to spend money on. To produce these goods, we need resources, and since our greed of luxury is unlimited, these resources will deplete very quickly. This phenomenon is very obvious as basic needs like water, and sooner air, are depleting quickly. What happen if we live in a socialistic society, will it solve the problem? No, because the society's greed for luxury is still there and still infinite, it would be easier to control and provide greater flexibility to delay the problem.

Since money is a medium of exchange, let's think of it as an exchange. People spend energy and time to earn money, and then they use the money to acquire luxuries and basic needs that other people spend time and energy to produce. In this exchange, there are three things that are involved: energy, time and money. Amongst all three, money is the most valuable, because it can be stored while spending time and energy will give you some payback in the form of experience or relationship (making it less valuable). You are more likely to spend a day's worth of time and energy than a day's worth of salary to help someone. Therefore, it makes sense to say that people are more likely to help one another in the form of time and energy than in the form of money. However, we are living in a world where money dominates everything. It will only make people more self-interested and less likely to help one another when helping one another is the most effective way to solve most of the world's greatest issues.

Before the agricultural revolution, people used the barter system to trade with each other. When currency and money were introduced, trade became more complex than ever, benefitting all parties. However, the barter system had a great advantage that is easily neglected: tribes that use barter system tended to rely on 'gift economy' more than tribes that use monetary system and this promotes selflessness. Gift economy is a mode of exchange where valuables are not traded or sold, but rather given without an explicit agreement for immediate or future rewards. This method is increasingly crucial to long-term human survival because people who rely on the gift economy are more selfless than those who don't. For example, poverty is an urging issue that we have to tackle, gift economy is the best way to deal with it, but its effectiveness is hindered by our monetary system. At some point in the future, both capitalistic and socialistic societies will face an issue where the monetary system is hindering advancement and reducing complexity because monetary system is the reason why people's skills and talents are not at their full potential. It is also the reason why people are selfish, therefore we can blame selfishness (thus all evil) on the monetary system.

I agree with most people that money is one of the most influential innovations of human civilization, so is feudalism and slavery, but that does not mean it will always be the most efficient invention. One day, it will fail us. People may ask,"how can we run our economy without money?", and my answer is this: I'm not sure. There is a utopian model that might work, but it is too far out and seemingly impossible. I can identify the problem, but I do not have a substitution or a solution, so I'm asking you to help me out. You must realize and recognize the problem, and try to solve it, no matter how hard it may seem.