Money is a stupid measure of achievement but unfortunately it is the only universal measure we have. Discuss its importance
In life there must be a measure of achievement. In ancient society achievement was measured by the head of cattle one possessed, by the acres of land he owned and by the battle he had won. Among the cannibals by the skulls he had won; very grotesque and cruel indeed. In these examples we find it was never the money that counted in measuring achievement. Instead of money some societies had different measures, for examples, it may be the cowries or even salt. There are areas where the achievement cannot be measured numerically because of the uniqueness of the achievement, for instance, in the case of conquering Mt. Everest or landing on the moon.
However, today it is money. It can command a measure of achievement. If he has a big bank balance he is looked upon as a man of success. How he got them and at whose cost he got them are not questioned.
But the real worth of money is its exchange value. When money was there, of course then too there were transactions. They exchanged one commodity for another, called the barter system in the olden days. If one had a cow he may exchange it for wheat; if one had wool he may exchange it for finished product. With the complexities of the market and the multiplicity of commodities, barter is not possible. We can't say it is completely out of fashion for in international trade a kind of barter is still going on. A country exporting wheat may in turn get sugar. A country exporting tin and rubber, may import motor cars. But as a measure of value money is the best. As such it has brought many good things and bad things too.
To measure the achievement money is also used as a standard. The achievement of amassing great wealth has to be looked into. Has it come by honest work or dishonest means? This moral side is very often eclipsed by the ostentatious show of the wealth. People are dazzled by the riches, the limousine a person drives, the brilliant gems his wife wears and other items of luxury.
Let us see why it is a stupid measure. How can one get money? Can he get by inheritance, by being the owner of some natural resources e. g. petroleum, good land speculation or having a good market for products?
Still we want a measure by which other things can be valued. Money is the greatest common factor and the genius who thought of money as such must have been a very brainy fellow indeed. It makes marketing and accounting easy. It is easy to carry. Intangible becomes tangible.
But all is not well with money. The value of money is only relative. It depends on how much a particular unit of currency can buy in the market. Some currencies are backed by good economic strength while others are weak. That is the picture we see today. To decide achievement by money alone is a very poor yardstick.
Money
is a stupid
measure
of
achievement
but
unfortunately it is the
only
universal
measure
we have. Discuss its
importance
In life there
must
be a
measure
of
achievement
. In ancient society
achievement
was measured
by the head of cattle one possessed, by the acres of land he
owned
and by the battle he had won. Among the cannibals by the skulls he had won;
very
grotesque and cruel
indeed
. In these examples we find it was never the
money
that counted in measuring
achievement
.
Instead
of
money
some
societies had
different
measures
, for examples, it may be the cowries or even salt. There are areas where the
achievement
cannot
be measured
numerically
because
of the uniqueness of the
achievement
,
for instance
, in the case of conquering Mt. Everest or landing on the moon.
However
,
today
it is
money
. It can command a
measure
of
achievement
. If he has a
big
bank balance he
is looked
upon as a
man
of success. How he
got
them and at whose cost he
got
them are not questioned.
But
the real worth of
money
is its exchange value. When
money
was there,
of course
then too there were transactions. They exchanged one commodity for another, called the barter system in the olden days. If one had a cow he may exchange it for wheat; if one had wool he may exchange it for finished product. With the complexities of the market and the multiplicity of commodities, barter is not possible. We can't say it is completely out of fashion for in international trade a kind of barter is
still
going on. A country exporting wheat may in turn
get
sugar. A country exporting tin and rubber, may import motor cars.
But
as a
measure
of value
money
is the best. As such it has brought
many
good
things and
bad
things too.
To
measure
the
achievement
money
is
also
used
as a standard. The
achievement
of amassing great wealth
has to
be looked
into. Has it
come
by honest work or dishonest means? This moral side is
very
often
eclipsed by the ostentatious
show
of the wealth.
People
are dazzled
by the riches, the limousine a person drives, the brilliant gems his wife wears and other items of luxury.
Let
us
see
why it is a stupid
measure
. How can one
get
money
? Can he
get
by inheritance, by being the owner of
some
natural resources
e. g.
petroleum,
good
land speculation or having a
good
market for products?
Still
we want a
measure
by which other things can
be valued
.
Money
is the greatest common factor and the genius who
thought
of
money
as such
must
have been a
very
brainy fellow
indeed
. It
makes
marketing and accounting easy. It is easy to carry. Intangible becomes tangible.
But
all is not well with
money
. The value of
money
is
only
relative. It depends on how much a particular unit of currency can
buy
in the market.
Some
currencies
are backed
by
good
economic strength while others are weak.
That is
the picture we
see
today
. To decide
achievement
by
money
alone is a
very
poor yardstick.