Two Views of Money in America
History of money in America:
- Alexander Hamilton’s monetarist approach
- a monetary system as an accounting tool for economic trade - exchange of goods and currencies
- any physical things could be monetized - labor, natural resources, and commodities
Two perspectives on money and its effects in the American culture:
1. Ralph Waldo Emerson: moral challenge of accumulating wealth
“Nobody should be rich but those who understand it"
2. Eva Hoffman: the force that money bears, and the causal relationship between the creation of wealth and the rise of poverty
“Money, in America, is a force so extreme as to become a religious force, a confusing deity, which demands either idolatry or a spiritual education"
“Those in poverty will never have enough; those with wealth will face … never-ending demands to spend.”
I am recently just fascinated by Alexander Hamilton after the play in Broadway! And I am so happy to see his name in the history of the money. A tragedy and complex image who further develop the most complex currency system in the world.
ReplyDeleteThe use of money is a burden and one that should not be taken lightly. If money is not used properly it may consume the user. Those who gain wealth too quickly may not "understand it" as you quoted and should be made aware of its power to change people.
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