Category: Money

Introduction

The relationship between gender and rate of expenditure is a topic that has attracted many scholars over the recent past. According to Klesment and Bavel, ones gender defines what they are likely to purchase in large quantities or more regularly (468). Women often spend their money on cosmetics and beauty products, while men on the other hand will likely spend their money on things like cars and purchasing luxuries (Hawkes et al. 5). Determining which gender spends more money requires an understanding of the cost of what they purchase and the frequency with which they buy these items. Many studies have strongly suggested that men spend more than women because of various reasons. In this essay, the researcher seeks to discuss reasons why men tend to spend more money than women.

Factors That Make Men to Spend More Money than Women

The global economy has been expanding consistently since the end of the 2008 economic recession. According to Rentería et al., the United States economy has grown steadily since then, and the purchasing power of its citizens increased (695). The same trend has been witnessed in different economies across the world. It means that the disposable income of people has been increasing over the years. Men are believed to spend more than women because of the following reasons:

Traditional Belief That Men Should Be Financially Responsible

The United States has gone through a massive socio-economic and political transformation over the years. Traditional systems and beliefs made it difficult for women to achieve socio-economic development. For a long time after the country gained its independence, women were not expected to work because men were viewed as the breadwinners. However, events of the two world wars where women had to become breadwinners because many able-bodied men went to war led to a massive change in the perception of society towards gender roles. It became evident that women could also support their families. They became active players in the workplace and the political environment. However, the societal perception about the financial role of men has not changed significantly.

In a family setup, men are expected to be financially responsible for most of the expenses, even when both partners are earning the same amount of salary (Chen-Lan and Raley 1056). Based on personal experience, there has been a trend where women feel that they should not be financially responsible for their partners. Their earnings are meant to take care of themselves, their parents, and their children. On the other hand, men are not expected to have any boundaries when it comes to spending their income. Their immediate family, including their partner, is their primary responsibility. It does not mean that women are ungenerous and less financially responsible than men.

A significant number of working women have no problem sharing the responsibility with their partners. Others will even support their husbands when they are jobless or their earnings cannot sustain their family expenses. The major issue, in this case, is the high expectation that society has towards men. The majority of men would want to live up to such expectations to be seen as responsible individuals, which in turn, leads to higher expenditure. As Otterbring et al. observe, the cost of medicare in the United States has also been going up considerably over the years (70). The tradition demands that men should be responsible for meeting the medical costs of all members of the family even in cases where both parties are working.

Men Are More Likely to Use Alcohol, Drugs, and Other Forms of Entertainment

One of the main areas where a majority of Americans spend their finances is entertainment. As disposable income continues to increase, many people are finding it necessary to spend more on leisure and entertainment. During weekends and national holidays, friends would visit clubs or spend some time along the beaches during summer. Robinson et al. explain that in such meetings, men are likely to spend a significant amount of their salaries on things like alcohol and drugs (4). Studies have shown that some of these practices may end up defining the lifestyle of the affected individual.

Drug abuse is one of the main reasons why youths find it difficult to save their income. Heroin, Cocaine, Meth, and marijuana are some of the most commonly abused drugs. In the United States, male youths are more likely to abuse these drugs than women are (Stanesby et al. 1699). The problem often starts in college where abusing drugs is common among young men. There is always peer pressure for these male students to use drugs so that they can gain acceptance among their peers. Given the social and health effect of drugs, these young men would not be able to stop abusing drugs when graduating from college. They become dependent on hard drugs. On the other hand, society still believes that women should not abuse drugs. When they try to use drugs, they are ridiculed as individuals who are trying to behave like men, forgetting their gender roles. The outcome of this perception towards women is that the majority of women will complete their college education without becoming reliant on these drugs.

The price of hard drugs in the United States has been rising consistently over the years because of the effort put in place by the Drug Enforcement Agency. The government has been using advanced border management strategies to fight drug smugglers and peddlers. As such, those who succeed in making the product available in the market have to use more money to acquire them. The high cost of delivering the drugs is often transferred to the customers. It means that the users have to spend more to satisfy their need for the drug. Robinson et al. note that some have to engage in serious offenses just to get money for drugs (9). Others are forced to sacrifice important expenses because of their desire to use these drugs. The fact that women are less likely to abuse drugs means that they are more likely to spend less.

Alcohol is another item that often tends to increase ones expenditure. Just like drugs, when one uses alcohol for a while, they become reliant on it. It is common to find both men and women at various entertainment joints taking alcohol. However, society still feels that women are not expected to abuse alcohol because of their role as mothers. In a family setting, it is more acceptable for a husband to spend some time with friends in a bar than it is for a woman. If both are employed a wife is expected to rush home immediately after work to check on the welfare of their children. They do not spend time in clubs because of this unique responsibility. It is important to note that although a significant number of women have been able to overcome such a chauvinistic attitude, the desire to take care of young children is often a natural trait for most women. Some of them will deliberately avoid taking alcohol because they fear they might end up becoming irresponsible parents (Stanesby et al. 1699). The situation may be worse in cases where the husband is already abusing alcohol or in cases where one is a single parent. The fact that they avoid drinking means that they can afford to save the income that would have otherwise been spent on alcohol.

Men tend to be more daring than women, a fact that makes them more likely to become alcohol abusers. In most cases, people start using drugs and alcohol because of curiosity (Stanesby et al. 1670). They want to know how it feels when one is high on drugs. Women tend to be more self-restraining than men. They are always more concerned about the consequences of their actions, especially if they have young children, and as such, are more likely to avoid the temptation. On the other hand, men are aware that their actions have consequences, but they are willing to take the risk and face the outcome of it. Some feel that they can easily get away with it. Once they get used to taking drugs, they are likely to spend more on them.

Men Are More Likely to Spend Lavishly on Their Loved Ones

The growing middle class is creating a trend of lavish spending. In the past, it was believed that this was a problem common among young adults who are keen on impressing their peers. However, the trend has become common even among the senior citizens of the country. Some people believe that the best way that an individual can demonstrate to society that they have achieved financial success is to purchase expensive items. It often starts with buying an expensive car that also costs more to maintain (Stanesby et al. 1696). One may be willing to take a loan just to buy one of the most expensive cars.

Another area where people spend lavishly is their residences. Mortgages have become more accessible to many Americans than it was in the past. Without putting into consideration various economic factors, many young men are getting expensive mortgages so that they can live in some of the most exclusive neighborhoods. Entertainment is another area where men often spend more money than women. When young adults get employed, a significant number often develop a feeling that they have to get the best available entertainment (Livingston 23). Studies have shown that when youths gain financial independence after college they become more willing to spend more to entertain their peers.

The primary goal of spending more money on cars, residential houses, and entertainment are to please peers and to show off to society. Men tend to suffer more than women from the problem of peer pressure. The pressure to achieve financial success is always greater on men than it is on women (Chen-Lan and Raley 1058). A responsible American man should own a car and a home. They believe that the best way of showing that a high level of responsibility and financial success is to purchase expensive items. In most cases, women do not face such scrutiny because of societal beliefs, which means that they can afford to use a cheap car and a modest house without facing any criticism. It is acceptable for them to do so because of the standards set by society.

Men in the United States Earn Relatively Higher Salaries than Women

Confidence in the future and the ability to make more money is another factor that is making men spend more than women. Studies have shown that women in the United States earn relatively less than men doing the same job (Otterbring et al. 70). A major effort has been made to address income inequality in the country for the past several years. It is also true that women are more likely to lose their jobs than men because of systemic problems in society (Chen-Lan and Raley 1059). Issues such as maternity leave, sexual predation, and male chauvinism are more likely to affect job security and the promotion of a woman. As such, the majority of them are often keen to secure their future. They are willing to sacrifice short-term pleasures so that they can achieve financial security. Unlike women, men do not face such numerous challenges in their workplace. They are more likely to get a salary increase and promotion because of a general perception that they are always consistent and can deliver the expected quality of work.

Men feel that their jobs are secured because of a social system that makes it easier for them to get well-paying jobs. They know that even if they do not make any significant amount of investment, their retirement benefits will take care of their needs. The possibility that a man may be arbitrarily dismissed is low compared to women (Otterbring et al. 77). Although human rights groups have been keen on fighting various workplace evils that women face in the United States, some challenges still exist. The Me Too movement highlighted how some women in this society suffer at the hands of unethical bosses who make unrealistic demands. These challenges make many women doubtful of their future financial capacity. The fear that they have about their job security motivates them to spend less and save more.

Conclusion

Americans are spending more than they used to because of the increasing job opportunities and high salaries. Large American corporations and medium-sized firms have come to realize the significance of having a motivated workforce. The increased disposable income has made many people increase their expenses on housing, food, medical services, and entertainment. The essay clearly shows that men spend more money than women in this country. One of the reasons for that is that society expects men to be financially responsible for their families as has always been the tradition. It is also evident that men are more likely to use alcohol and drugs than women are. As the price of these drugs goes up so does the expense. The desire to spend lavishly is greater in men. As discussed in the essay, the majority of men often desire to demonstrate their financial worth by purchasing expensive cars and houses. Another factor is that men are more confident than women about future security, which makes it easy for them to spend most of their earnings and save less.

Works Cited

Chen-Lan Kuo, Janet, and Kelly Raley. Is It All about Money? Work Characteristics and Womens and Mens Marriage Formation in Early Adulthood. Journal of Family Practice, vol. 37, no. 8, 2016, pp. 1046-1073.

Hawkes, Sarah, et al. Gender Blind? An Analysis of Global Public-Private Partnerships for Health. Globalization and Health, vol. 13, no. 26, 2017, pp. 3-11.

Klesment, Martin, and Van Bavel. The Reversal of the Gender Gap in Education, Motherhood, and Women as Main Earners in Europe. European Sociological Review, vol. 33, no. 3, 2017, pp. 465481.

Livingston, Amy. Money Management: Men, Women & Money, How the Sexes Differ with Their Finances. Money Crashers, 19 Jul. 2018, p. 23.

Otterbring, Tobias, et al. The Abercrombie & Fitch Effect: The Impact of Physical Dominance on Male Customers Status-Signaling Consumption. Journal of Marketing Research, vol. 55, no. 1, 2018, pp. 69-79.

Rentería, Elisenda, et al. Intergenerational Money and Time Transfers by Gender in Spain: Who Are the Actual Dependents? Demographic Research, vol. 34, no. 24, 2016, pp. 689-704.

Robinson, Kerry, et al. Necessary but Not Sufficient: The Continuing Inequality between Men and Women in Educational Leadership, Findings from the American Association of School Administrators Mid-Decade Survey. Frontiers in Education, vol. 2, no. 12, 2017, pp. 1-12.

Stanesby, Oliver, et al. Harm from Known Others Drinking by Relationship Proximity to the Harmful Drinker and Gender: A MetaAnalysis across 10 Countries. Clinical and Experimental Research, vol. 42, no. 9, 2018, pp. 1693-1703.

Money can be defined as coins and banknotes used as a medium of exchange of goods and services. It guarantees the achievement of exchange of goods and services by being the only item on offer that is always acceptable by everyone (Mishkin, p. 4). It is however necessary because human beings must exchange goods and services to live together in harmony and to prosper in their lives. The importance of money can be seen around us. Buildings, infrastructure, clothing, and vehicles are part of our lives. We spend money to acquire our needs.

In my opinion money is very important in our lives as it allows us to have a high standard of living, and almost have material things that we need in our day to day life. Money can buy us good houses, expensive cars, holidays and political position. For instance, Jon Corzine, spend around $60 million during his campaigns in New Jersey in only ten days during the last quarter of 2000 (Magnusson 10). Whilst this is true, I strongly believe that money cannot always buy everything that you want. Money cant buy love, friendship, happiness, or peace of mind, home, sleep, knowledge, time and health. Happiness is about how you feel inside your heart and not about money. Professor Lord Layard, of the London School of Economics and author of the book Happiness says that, money tends to make us happier. The conundrum of this is that there is no overall increase in happiness as the society gets richer. Instead, rich Western societies are afflicted with high levels of depression and jealousy. Youssou NDour claims that there is joy and happiness in Senegal though its people are not wealthy. The music and entertainment brings a lot of joy to the poor boys of Dakar. The viewpoint that says that money will make us happy is false because money will not always lead us to happiness nor can we purchase happiness with it. Moreover, money cant buy us love. Love is not for sale and thus we cant put a price on it. In addition, money cant buy us friendship either. We cant spend money trying to buy peoples trust and affection. On the other hand, having money that makes our lives comfortable is good. Every human being will want to live a contented life and be able to acquire his needs without straining (Mishkin, p. 40). As seen above money will help us get food, toys, go to schools and buy home or apartment. Instead, we have to be very cautious on how to deal with riches in our lives. Money can also bring hatred amongst families and friends. It can also break relationship due to disagreement or mistrust. In the end, it leaves us with empty hearts and hatred. That leads once again to our question: can money really buy everything? Not our souls; not friendship, affection, salvation, homes. Having money might be able to buy you everything you want but it doesnt change some things like; sickness, getting late for work among others. Good health can not usually be bought and getting satisfactory health care can be hard for communities of lower earnings. Money is certainly a tool that helps us to acquire good health care. Here, I would like to say that money helps us get everything we need in life but can also make us lose self dignity and respect. One should not allow money to get in their way such that it may hurt loved ones, and control your mind. We should control the money and not the control us. Moreover, one should use money for good uses not bad ones and dont get too greedy you might fall and lose everything.

Work Cited

1. Mishkin, Frendrich. The Economics of Money, Banking, and Financial Markets. Boston: Addison Wesley, 2007. 40.
2. Magnusson, Paul. What Makes Jon Corzine Run: His rise in the Senate has been meteoric- so why is he aiming to be governor of Jersey? Business Week 2004. 10

Abstract

This research proposal is based on whether money is evil or virtue for Christians. To adequately address this research problem, the researchers have decided to address the topic using four factors: meanness versus generosity and greed versus frugality. This will be a qualitative study because it aims to evaluate the experiences and opinions of people regarding whether money is evil or a virtue. From the research proposal, it is expected that the study will find that money is neither evil nor virtue; however, it depends on the person who owns it. On the one hand, if an evil person owns the money, it will be used for evil purposes. On the other hand, if a virtuous person owns the money, it will be used for virtue.

Introduction: Research Question

This study seeks to contribute to the research on whether money is a virtue or evil. To achieve this, the study will have to document how money has been used in good ways through spreading the gospel and how it has been used in evil ways for personal or selfish purposes. Broadly, this study will be based on the following research questions:

1. Virtue: Can money be acquired in good ways and used for good purposes?
2. Evil: Can money be used to do evil things to society?

Statement of Problem

Money and other early riches have always been a controversial issue for Christians. God intends that everyone flourish economically and enjoy the wealth of his generosity. In addition, Gods world has enough resources to provide for what all Christians need. However, in this divided world, many people do not get to experience what God has provided. Thus, many find that their needs are met at a physical, moral, emotional, spiritual, environmental, or relational cost (Alawode 3). Thus, Jesus was concerned about how Christians acquired and spent their wealth. Some scriptures are full of directives to believers on acquiring wealth because wealth can snare Christians walk with Christ and distract them from seeking the kingdom of God first. Christians should treat wealth and abundance with care because scriptures have warned, if riches increase, set not your heart upon them (Ps. 42:10). Thus, Christians should not be attached to worldly possessions because they will die and leave them behind one day.

Believers should have their eyes and hearts facing heaven without any distractions. Money is significant to their life, and they should use it to demonstrate their love and the reality of God. When used correctly, money can be a powerful tool in spreading and showing the love of God (Alawode 2). Thus, the work of believers is to spread the gospel of God, and they should use their money and wealth to spread the gospel. On the contrary, money can be a dangerous tool when it gets into the hands of the wicked because it can be used for destructive purposes.

Despite all the many varying opinions and books regarding Gods purpose for Christians financial lives, there are still major gaps in the current literature. It is within this framework that this study has decided to choose a research topic on whether money is evil or virtue so that it can contribute to the existing literature. In addition, the study aims to ensure that it provides a view to Christians on how they should seek and utilize their wealth.

Purpose of the Study

The study aims to compare moneys effectiveness as a virtue or evil. During ancient times in Europe, the gospel was spread positively and negatively. People who accepted the gospel were rewarded, while those who did not were forced to be baptized or killed (Zheng et al. 3). Most of these actions were commissioned by the wealthy to ensure that other people followed their lead. This shows that money can be used positively to spread the gospel through virtue or provide incentives for the people who accept the gospel. On the contrary, money can be used for evil purposes in spreading the gospel, such as intimidating and forcing people to convert or face the consequences.

Thus, this study assesses moneys use as a virtue or evil in the world. First, it will assess the effective use of money as a virtue and find the religious benefits of using wealth virtually. On the other hand, the study will analyze the use of money and wealth in evil ways and determine its effects on Christians. Finally, the results will be analyzed depending on four opposite virtues: meanness versus generosity and greed versus frugality.

Significance of the Study

A German political magazine called Der Spiegel wrote on March 14, 1997, that greed for money is good. On February 13, 2010, the same magazine on its front page read, The Triumph of Sin: about lust, greed and other temptations (Zheng et al. 7). On both occasions, various financial crises occurred in the country. The second article relates to a bible verse in 1 Timothy 6:10, which states, The love of money is the root of all kinds of evil. It continues, adding that by craving it, some have wandered from the faith. This shows how the lust for money has lapsed many believers from faith.

This study is significant to people who want to live Christian lives as believers, mostly leaders. This is because they have a significant amount of wealth, which, when well utilized, can benefit the church and themselves; otherwise, it can be dangerous. The study wants to outline to Christians how they can live the virtues of money in the current world. According to Aristotle, achieving virtue is a way of happiness in life; thus, any free person would want to acquire the virtues (Zheng et al. 5). For Christians, the highest goal is to be part of Gods kingdom, the justification of faith can achieve.

Hypothesis/ Statement of Position

1. Money is a virtue when well utilized for generosity and frugality and evil for meaningness and greed.

Methodology

Methodological approach

This is a qualitative study because it seeks to understand whether money is virtue or evil. Thus, the researchers will use qualitative methods to collect and analyze the data. One of the researchs main characteristics that make it qualitative is that it seeks to understand human behavior on how the utilization of money can be a virtue or evil (Aityan 113). In addition, the qualitative methodology allows for the generalization of data; therefore, the results found in this study can be used for other populations.

The qualitative study allows non-numerical data to observe phenomena required in this study because the researchers have to observe how believers acquire and spend their wealth and the impact it has on the community. The researchers must determine whether the believers are mean, generous, greedy, or frugal. In addition, they will have to evaluate if the method used to acquire and spend money leads to virtue or evil. Qualitative methodology is less controlled and more interpretive, giving enough room for the researchers to view this problem from different perspectives.

Sampling Strategy

This study will use non-probability sampling because not every member of the population will be included in it. The study population will be chosen on purposive sampling, which is a method that allows the researcher to be judgemental in their sample (Aityan 114). In this case, the sample must include Christians because the study is based on Christian teachings. In addition, it will be more focused on wealthy Christian leaders to evaluate whether their wealth is used for virtue or evil. The study will have to use beneficiaries from wealthy Christians, which implies that it will have to pick its respondents based on different merits. Thus, non-probability sampling is the most effective method for this study.

Data Collection Methods

This study will use three data collection methods: interviews or focus groups, participant observation, and existing data. Interviews will be used to collect data from small groups of believers concerning acquiring and using money. The study will use structured interviews whereby all the respondents will have to answer the same questions to make it easier to compare the results (Saeed et al. 5). Also, structured interviews will help researchers reduce bias in interviewing by standardizing them. Since most wealthy respondents may not be available for face-to-face interviews, this study will use online interviews through zoom. The interviews will be recorded for future use in the study. Interviews will be the most effective data collection method because they allow the researchers to explore the research subjects opinions, experiences, and behavior (Saeed et al. 7). Due to its open-ended nature, researchers will be able to get in-depth information about the topic of money being a virtue or evil.

The other effective method which will be used in the collection of data will be participant observation. This is a qualitative research data collection method in which the researcher gets to observe participants as they carry along their activities keenly. This method is commonly used to understand social interactions, values, and common practices (Aityan 115). Since this study is based on understanding values and common practices that believers demonstrate in acquiring and expenditure their wealth, it is an effective method to collect such data. Researchers will use active participant observations whereby they will accompany the respondents in their religious rituals, activities, and customs to establish how they use their wealth. Later, they can use covert observations on the people who interacted with the respondents to see the impact that the respondents and on their lives. For instance, if a religious leader donates money for fundraising for a church function, the researchers will come back as covert observers to determine the impact the money had on the people it was fundraised to.

The other data collection method used for this study is existing data. Existing data will be a good source of secondary data for this study. The study will evaluate other studies that have been conducted concerning the issue of whether money is a virtue or evil and use the information available. The importance of using existing data is that it will enable this study to build on existing research about the topic (Aityan 116). It will thus lead to better results and a unique study that will factor in the recent research gaps on the topic. In addition, the use of existing data will enable the study to access a large volume of data because there is no limit on the available sources that are available online.

Analysis Method

This study will use thematic analysis to analyze the data collected. The thematic analysis looks at patterns in a data set and groups them into similarities or themes that can produce a real meaning (Saeed et al. 14). Thematic analysis will be useful for this study because it is used to find peoples experiences, opinions, and views about a subject. In this case, people can provide opinions on whether money is a virtue or evil. One of the main benefits of using thematic analysis is that it allows the flexibility of interpreting large data sets and sorting them easily for broader themes (Saeed et al.14). In addition, it allows the researchers to analyze text using different theories, which is useful in this study. Thematic analysis will enable the researchers to draw new insights into the topic of discussion.

Limitations

No methodology is perfect; thus, it is important to speculate on the potential limitations of this methodology before conducting the research. One of the main limitations is selection bias, whereby the researchers may not fairly choose respondents. Since this study is based on judgmental opinions, it is essential to ensure that sample selection is done fairly to ensure that both sides are well represented and avoid bias.

Expected Results

Many people assume that accumulating money and wealth provides a path to glutton and greed in society. This is based on 1 Timothy 6:10, which states that money, the love of money, is the root of all evil. However, some people argue that money is neither evil nor good because it is a medium for exchange (Overall and Gedeon 6). How a person uses their money determines whether it is good or evil. It reflects who a person truly is and what they value most. Thus, a person who uses the money for generosity through helping orphanages and needy people may have virtue. On the contrary, when a person uses the money for greed and cruelty, it reflects who they are and what they value most. Thus, money reflects a persons identity; hence, it should not be judged as a virtue or evil.

Concerning meanness and generosity, money can be defined as a virtue or evil depending on whether the person is generous or mean. Being mean is defined as an ugly sin because it is incurable. According to Aristotle, people who want not to be mean should practice generosity since childhood. A mean person is not only mean to others but to himself too (Warren and Warren 12). That is why they guard their treasures without putting them into use. A mean person starts reading the menu from the right side, ordering the cheapest meal and then complains later. This destroys the meals for people around him, which is why meanness is considered evil.

Generosity is considered a virtue because it involves providing for those who do not have it. Paul in the New Testament tells the Corinthians that they should support the church in Jerusalem by collecting money. In 2 Corinthians 8:14, he writes, our abundance at present should supply their need, so that their abundance may supply your need, that there may be fairness. Another scripture from the New Testament in Philippians 4:18 states, I have received full payment and more. I am well supplied, having received the gifts you sent from Epaphroditus, a fragrant offering, a sacrifice acceptable and pleasing to God. Thus, generosity is a virtue that is considered essential in the Christian community. However, there is a challenge in finding between meanness and generosity, virtue and evil. Sometimes generosity may be triggered by selfish aspirations, which makes it the role of the researcher to substantiate between what is a virtue and what is evil (Warren and Warren 8). In other times, meanness may be used for good purposes, making it a good virtue. Thus, either way, money is a virtue when used for good and evil when used for bad purposes.

By evaluating greed and frugality, money can be determined as a virtue or evil. Greed is considered unacceptable and an evil character in the current world. According to the Old Testament text in Ecclesiastes 5:10, The one who loves money is never satisfied with money, and whoever loves wealth is never satisfied with income. This shows that greed is an evil character because it is insatiable and does not achieve satisfaction. Money can lead to greed, whereby a person is not contented with what they have in their bank accounts and thus be forced to do evil acts to gain more money (Gregoire, para 3). Greed breaks Gods first commandment: thou shall not have other gods before me. Thus when a person is addicted to greed, they may not come out of it easily. Greed has been associated with evil; therefore, since money is related to greed, it can be said to be evil.

Contentment is a virtue that is associated with goodness. Although the bible talks about the contentment of the flesh, the contentment of money is essential for Christians who want to keep their faith in Christ. According to 1 Timothy 6: 6-8, Now there is great gain in godliness with contentment, for we brought nothing into the world, and we cannot take anything out of the world. But we will be content with these if we have food and clothing. Thus people who have wealth and are contented with it such that they do not use it to exploit other people into getting more display a good virtue of money.

Limitations to Research

One of the main limitations of this research proposal is that it lacks a previous study on the exact same topic. Although there have been many studies on the broad issues of money in Christinas life, only limited research has been conducted to determine whether money is evil or virtue based on meanness versus generosity and greed versus frugality. This shows that the student may not be able to get an in-depth literature review finding concerning the topic. The other limitation is that the sample size chosen for this study may be insufficient to generalize the results for all Christians. The sample size of a research problem relies on its nature, and thus since this is research involving a broad group of participants, it may be difficult to find the opinions of all the people.

Conclusion

The discussion on whether money is a virtue or evil has faced much contradiction in the theological field. Some studies reveal that money is just a medium of exchange, and thus it is the person who handles it that determines whether it is a virtue or evil. Therefore, this study used four different virtues, which include meanness versus generosity and greed versus frugality, to determine whether money is a virtue or evil. However, from the research proposal, money is neither virtue nor evil because it all depends on how a person uses it.

Works Cited

Aityan, Sergey K. Research Proposal. Classroom Companion: Business, vol. 13, no. 2, 2022, pp. 10921, Web.

Alawode, Akinyemi O. The Importance and Challenges of Money in Christian Missions. HTS Theological Studies, vol. 76, no. 1, 2020, pp. 15, Web.

Gregoire, Carolyn. How Money Changes the Way You Think and Feel. Greater Good, Web.

Overall, Jeffrey, and Steven Gedeon. Rational Egoism Virtue-Based Ethical Beliefs and Subjective Happiness: An Empirical Investigation. Philosophy of Management, vol. 13, no. 2, 2022, pp. 111, Web.

Saeed, Murad Abdu, et al. Integrating Research Proposal Writing into a Postgraduate Research Method Course: What Does It Tell Us? International Journal of Research & Method in Education, vol. 13, no. 4, 2020, pp. 116, Web.

Warren, Meg A., and Michael T. Warren. The EThIC Model of Virtue-Based Allyship Development: A New Approach to Equity and Inclusion in Organizations. Journal of Business Ethics, vol. 32, no. 2, 2021, pp. 116, Web.

Zheng, Xiaofang, et al. Could Wealth Make Religiosity Less Needed for Subjective Well-Being? A Dual-Path Effect Hypothesis of Religious Faith versus Practice. Frontiers in Psychology, vol. 11, no. 6, 2020, Web.

Building relationships

People get in and out of relationships a number of times in their lifetime. Studies have established that people get into relationships for economic, cultural, religious, and social reasons, among others (Gebreyes, 2014).

Studies have established that one of the main reasons that keep a relationship alive or breaking is money. Experts argue that the financial situation of an individual can influence their ability to have relationships and the success levels (Reamer, 2001).

Causes of money problems in relationships

In the contemporary world, both men and women contribute equally to the economy of the household. This has changed the household role of men from being the sole breadwinners (Gebreyes, 2014).

Increasing expenses, especially for people with families is a major cause of financial issues in a relationship. This problem arises when the income of both partners remains constant while expenses in the house keep increasing (Reamer, 2001). A point comes when both partners cannot handle the financial burden and differences arise.

Increased desire for success can also lead partners to have differences. Experts argue that different definitions of success by partners often lead to differences. Achievements that one partner considers as success could mean something different to the other. Often this leads to one partner pushing the other to live beyond his or her financial ability in order to achieve their own success (Gebreyes, 2014).

Financial infidelity refers to a situation where partners hide crucial information, especially debts from each other. Studies have established that some of the debts that partners hide from each other relate to habits and addictions such as gambling. Others hide information about soured business deals and credit cards (Reamer, 2001). Differences normally arise when the other partner finds out and gets hurt for lack of trust.

Lack of common financial goals causes issues in relationships very often. Experts argue that most people in relationships do not plan for their money together. Most people, especially those in marriages operate individual bank accounts (Leong, 2013). This often leads to feelings of inequality, mistrust, and lack of togetherness. Such feelings often end up in numerous differences within a relationship.

Solving money issues in relationships

One of the best ways of solving financial problems in relationships is partners pooling their resources together. Experts argue that money plays a crucial role in building a healthy relationship, thus the need for partners involved to be a team (Leong, 2013). This address issues of mistrust and inequality.

Experts also advise couples to talk about money and the way to spend it on a regular basis. Studies have established that lack of adequate information about money in a relationship can make partners to have differences (Reamer, 2001). Therefore, it is important for partners to budget their money together and also discuss ways to get more income.

Sharing of responsibilities is also a good way of addressing financial issues in a relationship. Partners should ensure that everyone has an equal opportunity to contribute towards household finances (Leong, 2013).

Setting financial priorities is also a good way of solving issues in a relationship. This includes identifying things to buy and the amount to save. This way, a couple can never struggle with their finances or have issues arising from the same (Reamer, 2001).

References

Gebreyes, R. (2014). Financial Tips for a Happy Marriage When She Earns More. Web.

Leong, M. (2013). Should You Dump the Guy with Money Problems? Web.

Reamer, F.G. (2001). Tangled Relationships: Managing Boundary Issues in the Human Services. New York: Columbia University Press.

Introduction

Money is the issue of the economy, due to the political and social, and other factors affecting different aspects of life and household.

Money is an asset, making positive or negative or some other functional effect. Goods, demands, propositions are constantly dependent on the money supply. And the money demand is greatly affected by economical growth. The main point about money, in general, is utility. How do we assume utility from money knowing very well that we cannot consume money but use it to buy consumables, goods and make capital?

First, we have to comprehend what utility is in order to get the meaning of utility of money. Utility in another word is the contentment got from consumer goods, services, etc. For example, we can say the satisfaction of food is feeling full while the utility of medical care is health.

Main body

On the basis of the research given in Monetary Theory and Policy by Walsh, lets try to analyze some monetary economy aspects. It arises the question: How should be the demand for money be modeled. But lets put some other questions to the model, and trace the results. What if the state government is able to promise a constant rate of money growth, then what is the money growth rate, people want?

Many different models of incorporating are known, but all of them are based on main three approaches.

3 approaches to incorporate money into the equilibrium model, that is three types of modeling money:

1. Assume, that money makes direct utility through incorporating money balance into the parts of the model utility functions.
2. Impose transactions costs that arise the demand for money, requiring that money be used for concrete transactions, assuming both money and time aspects as the leading factors in the process of consuming goods.
3. Treat money as no other means of transferring resources with no time factor.

The important conclusion to be drawn from the different models is that whether the main idea is generalized from one and specific model, or it is based on the manner in which the role of money has been introduced.

Walsh exemplifies the ways in which the money role can affect the inflation and steady capital stock of the country.

In his, work Walsh makes the accent on the first approach of incorporating money into the model. The given approach can guarantee the agents of the model a positive money value under the conditions of choosing to hold the positive amounts of money.

Originally, the model was generated by Sidrauski in 1967 and name as a money-in-the-utility function or simply MIU. In this model, not only the consumption of goods and leisure yield direct utility but the possession of currency, as well. Since money itself has no intrinsic value and is only useful in introducing transaction costs, incorporating money in the utility function is not free of criticism.

In this research, the theme of the ordinary citizen and his household factor rises.

Apparently, the currency is not the only factor to enter the utility function. Instead, it is the command over goods or the transaction services value, expressed in terms of goods, that makes sense. Also, we have the constituents as time, Inflation, population, labor, and capital.

Together with Walsh, lets begin with the steady-state condition of the model. The steady-state assets, the capital stock, inflation, real money balances must meet the first-order necessary conditions for solving the household problems, as we look through the prism of a common citizen of the state and his values, the constraint of the budget of the state, and the specification of the external growth rate. In the equitation, it looks as all the components are equal to zero.

And in this conclusion it is evident, under such real economic conditions, per capita money holdings are invariable and, as a result, a constant value of real money balance needs to change with the same rate. As money is assumed to pay no price of interest, the opportunity cost of money holding is dependent both upon the capital real return and the inflation level. And if the price level is ascending, then real money value is getting declined. And if the situation is invariable and the prices do not ascend, then the forgoing earnings are to be returned to the capital.

To make sure that the monetary equilibrium under the steady-state conditions subsists, there must be a positive but limited level of real money balance that meets all the conditions and terms estimated at the steady-state consumption level.

Through chapter 2, of the book Monetary Theory and Policy by Walsh, equations and the specimens of application of the model ambiguous conclusion is evident.

Sidrauskis Money-in-the-Utility Function represents one approach to model the demand for money in an economy. The Sidrauski model allows some welfare comparisons to be made. The model can be used to estimate the welfare costs of inflation and to determine the optimal rate of inflation. Friedmans conclusion is that the optimal inflation rate is the rate that makes a zero nominal rate and the conclusion is quite strong.

Undertaking the investments and holdings of real money balance causes the direct utility, which in its turn, is the issue ensuring definitely positive demand for money. And in equilibrium, under such economic conditions, money is held and has worth.

Although some of their worked-out results considerably differ from those in the literature on the topic, some key effects in the money growth process variations are clearly apparent.

Conclusion

To sum up, the size of the relative risk aversion coefficient shows whether the marginal utility of consumption decreases or increases as to the real money balances and as a result: labor and output respond to a monetary growth shock.

For the criterion values of the models constituents, however, the effects of varying in the rate of the money growth process on output are quantitatively small in the flexible-price model worked out in the research.

Reference

Walsh, Carl. Monetary Theory and Policy 2^nd Ed. Boston: MIT Press, 2003.

The Initial Problem

Introduction: The problem that is money laundering, corruption and terrorism

Money laundering, corruption and terrorism are rife in East and Southern Africa. This unfortunate phenomenon is largely attributed to the abject poverty that at times seems to be endemic in this region of the world. The aforementioned problems only aggravate an already awry situation hence they further consign the region and its inhabitants into unspeakable squalor. This dissertation proposal seeks authority to undertake a research into ways and means of combating money laundering, terrorism and corruption in this region so for its wellbeing as well as that of the international community.

International obligation towards money laundering

Terrorist activities have been on the increase in the recent past the world over hence surveys have to be carried out in order to combat financial money laundering. A key objective of the study is to figure out the merit of the BSC to this sector.

International policies and legislations

Nations all over the world are striving to implement policies and legislations that are aimed to discourage money laundering, terrorism and corruption. In the United States for instance there is the US patriot Act that is intended to boost the nations guard against terrorism. They also have the money laundering provisions that aim the financial make-up of terrorist groups and those of criminal organizations.

Creation of ESAAMLG

ESAAMLG came about with the sole purpose of combating money laundering that is prevalent in Eastern and Southern Africa. The plan was to formulate policies that are going to strengthen the guards of member countries against money launderers who are running riot in the said countries.

FATF forty recommendations

The Financial Action Task Force recommends the integration of East and Southern African countries policies in their attempts to combat money laundering.

Purpose of dissertation

Against this background, this dissertation sets out to find out more about money laundering, corruption and terrorism financing. This dissertation seeks to explore how the said vices are perpetrated and subsequently how to guard against them. Ideal measures and practices necessary for combating money laundering, terrorism financing and corruption will be identified as a result of this research leading to contribution to this field of knowledge.

ESAAMLG Performance

Introduction

Success of ESAAMLG

Sadly, there is little to write home about the success of the ESAAMLG when it comes to the success that they have realized in fighting money laundering in Eastern and Southern African countries. If any thing, money launderers have shored up their activities in these regions; a clear indication that these countries are losing the war to the money launderers. The reason these countries have had little success in fighting money laundering in their respective nations can be attributed to a lot of factors most of which have been highlighted in the other sections of this research.

FATF Implementation by Governments

Financial Action Task Force has not been fully implemented by ESAAMLG governments or where they have been implemented they are not accomplishing their intended purpose. There are a number of reasons as to why this is so but the most prominent one is the fact that these governments are ridden with extreme corruption from top to bottom (Fatf, np).

Measures and practices of individual States

There are those nations that are members of ESAAMLG that have done an exemplary job in their efforts to fight money laundering relative to their counterparts. A case in point is Kenya; this country recently inaugurated a new constitution that will go a long way towards aiding the fight against money laundering.

Strategy in addressing money laundering issues

Most of the perpetrators of money laundering are foreigners. Therefore, the first strategy that is used by most nations is implementing policies that are going to restrict the access of foreigners to financial services. This has proven to be very effective in the countries that have implemented them such as the United States.

Effects of money laundering on developing states

The adverse effects of money laundering cannot be overemphasized.

But by far the most devastating effects of money laundering to any nation apart from developing nations is the erosion of the value of that nations currency. This has the domino effect of making this particular country unable to afford imports since it has a weak currency.

Example of Money Laundering

A good example of money laundering is passing off money that has been illegally acquired as legit by way of opening a casino and letting people gamble for such kind of money. The end result is obvious because as the saying goes the house always wins.

Challenges in implementation by ESAAMLG

The challenges that ESAAMLGs encounter are well known. Rampant corruption within government ranks is the principal impediment. There are also weak institutions that do not help much in the fight against money laundering.

Corruption

Corruption is the number one impediment when it comes to combating money laundering since the beneficiaries of this illicit activity are the same people who are expected to mount a campaign against the vice.

Abuse of global financial network

The abuse of global financial networks is also another way of perpetrating money laundering. This is also done by government officials in high places who have access to funds from global financial networks such as the international monetary fund.

Effects on financial institutions

Financial institutions are very critical in terms of either fighting or abetting money laundering. This is because they are the conduits that launderers use to carry out their activities. There are some financial institutions that are set up for the sole reason of laundering money that has been acquired illegally.

Impact of financial sectors in developing economies

As earlier indicated, the fight against money laundering can considerably benefit or suffer as a result of the actions of financial institutions. The bottom line though is the fact that financial institutions can be extremely instrumental in dealing with money laundering.

Contribution to knowledge

Extensive research has been carried out in the past with regard to Anti Money Laundering, Anti Corruption and Counter-Terrorism Financing activities in developing countries. This was prompted by the fact that international communities were becoming increasingly concerned with the growing incidence of organized crime, corruption, and terrorism and the devastating effect these problems have on peace, security and development.

ESAAMLGS Impacts

Introduction

ESAAMLGS were instituted to deal with the money launderers who were having a field day in the countries that have been mentioned. This research sets out to establish whether their formation of this body has had any impact with regard to containing the spread of money laundering.

Institutional and structural problems in the ESAAMLG

The ESAAMLG has encountered a number of challenges with institutional and structural problems being among those challenges. These came about because the member countries implemented divergent policies in their attempts to get rid of money laundering in their respective countries.

Measures and practices that these governments need to implement

The governments of member states need to consider adopting or implementing similar policies that will make their fight against money laundering easier.

What operational tools should these countries deploy?

These governments should first of all streamline and strengthen the institutions that are charged with the responsibility of fighting money laundering.

Roles played by bureaucracy in the governments of the developing countries

Bureaucracy hampers the fight against money laundering in developing countries in that, in order to implement a policy to be used to fight against money laundering, one has to pass through a lot of red tape hence wasting time while the money-launderers get ahead of the system and the officials, making it hard to apprehend them.

How do the perpetrators of money laundering use their organizational capabilities?

Money launderers have got extensive connections with all the relevant players involved in money laundering. These players range from prominent business people, politicians and workers of financial institutions. With this vast network of well placed people, money launderers can pull their strings from anywhere and whenever so long as they have greased these peoples palms making their work very easy.

Problems and challenges bedeviling governments

There are several problems and challenges bedeviling governments and among the chief constraints in the fight against the aforementioned vices is extreme poverty that seems to be endemic in the regions where these vices are most prevalent. Extreme poverty leads to a situation that makes the residents easy targets of the perpetrators of the vices of corruption, money laundering and terrorism.

Where poverty is rampant illiteracy levels are equally high. Institutions that have been established in these countries to fight these crimes are extremely weak. Weak judicial systems give perpetrators an easy time to carry out their gory activities.

Operational tools at the governments disposal

The operational tools at the disposal of these governments will also be analyzed to determine their potency and find out if there is need for the deployment of additional tools to effectively combat the relevant problems.

Methodology

The fundamental methodology used in this research is to gather empirical data, use secondary sources of information as well as primary of the developing countries response to terrorism, money laundering and corruption based on previous studies as well as publications that explore the experiences of the developing countries in their attempt to deal with problems and issues occasioned by terrorism, money laundering and corruption.

Empirical data

Empirical data is also going to be among the information that will inform the findings of the research.

Secondary sources of information

The secondary sources of information to be used in conducting this research will include private as well as public documents among others that may contain information regarding the topic at hand.

Primary data

Primary sources of information that are going to form part of the sources that information with regard to undertaking this research will be derived from. In this research the principal sources of primary information will be questionnaires and interviews of inhabitants in the affected area. Residents residing in areas where terrorism, money laundering and corruption are prevalent will be interviewed.

The questionnaires intended to be used in conducting the research will contain a certain set of questions that will seek to establish whether there are any accomplices of these crimes in high places hence the ease with which these crimes are perpetrated in the aforementioned countries.

Demonstration of new knowledge

Perpetrators of money laundering, financing of terrorism and corruption keep inventing novel and ingenious ways of carrying out their insidious activities. Research carried out in the past may at some point be rendered irrelevant on account of being overtaken by events. This is why it is necessary for researchers to keep carrying out researchers constantly so that they acquaint themselves with new developments in their respective fields of study. This research will therefore serve to add more knowledge to the one that exists currently.

Importance of efforts to solve money laundering

The importance of the efforts to address the problems associated with money laundering, terrorism and corruption cannot be stressed enough. Money laundering and terrorist financing undermine national financial systems. Unreliable sources of investment capital such as illegal establishments or financial assets enhance business risks. Increased risks lead to increase in barriers to economic activity and development. An example; money laundering destabilizes national economies by increasing demand for cash, accentuating volatility of interest as well as exchange rates.

Reasons for fighting terrorism

They aim to fight corruption in their financial sector as well as improving the investment climate so as to attract potential investors. These countries would also like their economies to increase access to world financial markets. As a result, it is in their best interest to strive to conform to international codes that aim to eradicate the abuse of the global financial network. A strong financial sector is an important ingredient for countries that harbor aspirations to be members of the global financial community.

Findings and recommendations

Potential findings

As a result of the research I expect to determine what governments of developing countries are doing or are not doing right in their effort to fight terrorism, corruption and money laundering.

Weak anti money laundering legislations

Weak anti money laundering legislations are an impediment to the fight against the vices. Robust legislations need to be enacted to enhance the fight against the aforementioned vices. Adopting a comprehensive legal framework will go a long way towards containing corruption, money laundering and financing of terrorism. The Anti Money Laundering, Anti Corruption and Counter-Terrorism Financing law needs to explicitly define money laundering and terrorist financing as predicate offenses as well as expand the scope of covered institutions. The law should allow the authorities to punish the criminal act.

Importance of collaboration in the war against terrorism

All parties are required to understand the importance of collaboration and should be willing to cooperate if the war against terrorism, money laundering and corruption is to succeed.

Whether dissertation will be guided by a theoretical framework

The dissertation will be guided by a theoretical framework and this proposal intends to find out the challenges and problems faced by these governments while trying to implement policies designed to address the problems posed by money laundering, terrorism and corruption.

Statement about the research

The research intended to be carried out will set out to establish whether the fight against money laundering, terrorism financing and corruption has been successful. Ways and means of enhancing the fight the three vices will also be explored.

This proposal focuses on three key questions with regard to developing countries response to terrorism:

1. What are the institutional and structural problems that developing countries have to contend with in their effort of effectively and efficiently combating terrorism, money laundering and corruption?
2. What measures and practices that these governments need to implement that will enhance their effectiveness and efficiency in addressing the problems posed by terrorism, corruption and money laundering?
3. What operational tools should these countries deploy in the war on terror, money laundering and corruption? While attempting to answer these three fundamental questions, other subsidiary questions emerge:

• What were the roles played by bureaucracy in the governments of the developing countries versus their national policies to fight terrorism, corruption and money laundering?
• How do the perpetrators of terrorism, money laundering and corruption use their organizational capabilities of ideology, leadership and recruitment and operational tools of command, control, training and logistics in carrying out their insidious activities?
• What are the capabilities of governments of developing countries and the practices they need to adopt to heighten their chance of effectively and efficiently dealing with corruption, terrorism and money laundering?

Summary and conclusion

The devastating effects of money laundering to any nation cannot be over emphasized. They can even lead to the collapse of a country if not taken care of at the initial stages.

This is why countries the world over go to great lengths to alleviate this insidious activity from not only their country but also assist other countries does the same as well because of the spill over effect that this vice has.

It is evident that in order to succeed in eliminating or controlling this vice, there has to be a concerted effort from all fronts of the nation. Where the effort is fragmented like its being witnessed in Eastern and Southern Africa, the efforts that will have been used in trying to combat the crime will count for nothing. This is so because of the organized nature of the money launderers. If there is any slackness in the system they will not hesitate to exploit it.

Time scale

The research is set to commence from 2^nd January 2012. In this day the researcher will commence analyzing all the relevant secondary material that he can find. This process is expected to last for a week.

After the analysis of secondary materials on 9^th January, the researcher will embark on interviewing people residing in the areas that form the subject of the research. This exercise is also expected last a week.

On 16^th January the handing of questionnaires to respondents so that they can fill them will go underway and its also expected to last just about the same time as the previous exercises.

On 23^rd January, the researcher will be expected to have collected all the relevant information and should by now analyze it to draw inferences with respect to the information he will have obtained. This process is expected to last for two weeks after which he shall prepare the final research document based on the information he has at that point in time.

Works Cited

Fatf. Eastern and Southern Africa Anti-Money Laundering Group (ESAAMLG). FATF-GAFI. 2009. Web.

Time Value of Money

Time value of money (TVM) is a financial concept, which implies that money available to an individual or a company at the present time is much more valuable. The same amount of money is worth more in the present than it will be worth in the future because of the potential earning capacity attributed to it (Investopedia, n.d.). Also referred to as present discounted value, this financial principle contends that because money has the capacity to earn interest, even the smallest amount is worth more the sooner it is received by someone. To better understand this idea, it is important to look at the following formula of TVM:

• FV=PV * (1+(i/n)) ^ (n * t) (Investopedia, n.d.).

In this formula, FV is the future value while PV is the present value of money; i is the interest rate, t is the number of years of withheld money, and n is the number of compounding periods per year (Investopedia, n.d.). For instance, if the present value of money is $10,000 was invested at a ten percent interest for one year, the future value will be:

• $10,000 * (1+(10%/1)) ^ (1 * 1) = $11,000

Based on the example given above, if an individual decides to invest money at the present time, this money will earn a certain percentage due to its growth in value. Therefore, there is no point in taking home less money today but getting a bigger lump sum in the future, especially when it comes to tax refunds. Essentially, tax refunds are loans to the government that have no interest rate, so every cent a person withheld from a paycheck brings no value. It is far more beneficial to take the money without waiting for April to get a refund. Instead, the time value of money suggests investing any sum at the present moment and getting a percentage of the interest.

Interest Rate Risk

The interest rate risk is a term that implies a certain risk associated with the change of the value of the investment, which is influenced by any shift in the interest rate relationship. It is worth mentioning that interest rate risks predominantly impact bonds, so there is a need for bondholders to make certain adjustments in order to secure themselves from being influenced by the changes in the interest rates (FINRA, 2016). With the fall of bond prices, interest rates rise, and vice versa. This occurs because the increase in interest rates decreases the opportunity cost of bond holding as the majority of investors quickly switch to other investments that have high-interest rates.

To secure themselves and their businesses from interest rate risks, bondholders prefer two methods: hedging and diversification. Hedging can be achieved through the swap of interest rates while diversification is implemented by companies investing in fixed-income securities. If the interest rates fall, this means that the prices on corporate bonds will increase. Therefore, it is advised for the companys manager to invest in fixed-income securities that will bring the corporation regular income as well as eliminate the majority of risks associated with the fluctuations of the portfolio.

Companies can predominantly appreciate such investments because fixed-income corporate bonds are much more likely to be repaid in the case if a company becomes bankrupt. With the fall in the interest rates, the company is in an advantageous position and should capture all opportunities with regards to selling some bonds and earning a profit, which further should be invested in fixed-income bonds that will provide some guarantees and secure the business from future interest rate risks.

References

FINRA. (2016). Understanding bond risk.

Investopedia. (n.d.). Time value of money  TMV.

Since time immemorial, art has been the primary means of aesthetic expression and the indicator of the cultural development of society. While the cultural value of many artworks exceeds material dimensions, it is hard to imagine how the masterpieces would be preserved without being involved in commodity-money relations.

Fine arts have not only for centuries belonged to the cultural realm but also served as a professional activity that brought revenues to the artists. Considering the era of Renaissance, for instance, one may notice that painting of altarpieces upon request of the patrons was a common practice for the masters of that time. Raphael Santi painted an enormous amount of altarpieces starting from less than 20 ducats up to 1000 ducats salary per work (A guide& par. 60).

One can make money on art, not just being a painter. During the last century, art dealing has become an extremely competitive business. René Gimpel, a prominent art dealer of the XX century, notes that it is not just earning money on selling artworks for the highest price, but also the way to promote and preserve the art. However, very often, the art collectors may be too vainglorious and would display all their pictures like rich children showing off their toys (qt. in Brewer 24).

The issue of the price of the works of art nowadays is rather contradictory. The recent Christies Contemporary Art Auction, where 495$ million were collected (Vogel par. 1), shows that influential people are ready to spend immense fortunes on the masterpieces that could hardly ever be compared to those of Raphael. This market will be developing, and the price possibly will be defined primarily by modern trends and the shrinking amount of masterpieces from the glorious past.

Overall, it can be stated that the relation between the artworks price and artistic value may be quite vague, especially concerning the newly created works. Since it is impossible to put all the artworks in the museums, the patrons of modern art might at least act more reasonable and spend money on some more socially important things.

The art as an infinite realm of the subtlest impulses of a human soul is often impossible to evaluate. While the work of art may be truly unique and of high cultural value, it may be not accepted by the public and considered good without meeting some selection criteria established in society.

Considering such criteria, Grayson Perry, in his article, names financial value, popularity, art-historical significance and aesthetic sophistication (par. 2) among the key ones. When it comes up to evaluating an artwork by those indicators, it may be hard to arrive at a conclusion whether art is good due to the very subjective nature of the question itself.

For those reasons, there exists a range of people who, by their position, have almost the monopoly right to put good or bad labels on the artwork. They are peer artists, teachers, dealers, collectors, critics, curators, the media, even the public (Perry par. 14), who validate a particular work of art. It is necessary for artwork not even to be considered beautiful; it is crucial to be named serious (Perry par. 21).

Linda Nochlin explores another often undermined but still blatant criteria as the artists gender. The history of world art had seen a minor amount of good women artists. Drawing parallels with John Stuart Mills idea of male dominance as primary social injustice, Nochlin states that women remained unrecognized in the world of art, not because of the lack of genius but because of the nature of given social institutions and what they forbid or encourage in various classes or groups of individuals (par. 29).

Thus, it can be seen that decisions about whether an artwork is good or bad are too often biased and subjective. To be recognized, art needs to get the approval of the experts who, in their turn, influence the acceptance of the artwork by the public.

Works Cited

A Guide to the Works of the Major Italian Renaissance Painters. Web.

Brewer, John. The American Leonardo: A Tale of Obsession, Art and Money. New York, NY: Oxford University Press, 2009. Print.

Nochlin, Linda. From 1971: Why Have There Been No Great Women Artists. 2015. Web.

Perry, Grayson. Grayson Perrys Reith Lectures: Who Decides What Makes Art Good? 2013. Web.

Vogel, Carol. Christies Contemporary Art Auction Sets Record at $495 Million. 2013. Web.

Time is money, just as money is time – but is one really worth more than the other? You spend at the bare minimum twelve years of your precious time preparing to waste the next forty at some menial job just to make money and retire to live out the next fifteen years of your life at some lake in the middle of Michigan. Time is free, and everyone has the same amount of it, unlike money. Time isn’t just something that can be taken away as readily either, but money can through the cost of living, taxes, etc. Even the richest men and women in the world, although they may have a seemingly infinite amount of money, never have an infinite amount of time. Yes, they may live longer due to better healthcare, diet, and other factors- but eventually, their time runs out just as it does for the poorest man on earth. The vast majority of the free world is separated by economic class, rather than race or religion, but is an unemployed poverty-stricken Somalian really happier than an elite upper-class American who works an eighty-hour workweek? One has only wealth, and the other has only time, but which one is happier? So, the question is, can time make you happier than money? According to Robert Roy Britt in ‘Time can make you happier than money’, it can.

Britt stated that “People who value time over money tend to be happier” (Britt), which he found out through several studies conducted by various organizations. One such study done on graduating college students by Science Advances found that indeed, time can make you happier than money by surveying 1,000 students on how satisfied they were with their life. The survey included questions related to their positive and negative emotions that they had felt over the past month. The graduates were given the same survey a year later. The study found out that nearly sixty-two percent of the graduates valued time more than money, and from this, they found out that those who valued time more than money were almost twice as happy as those who valued money over time. According to Ashley Whillians, “People who value time make decisions based on meaning versus money. They choose things because they want to, not because they have to” (Britt). Britt, in quoting this, strengthens his thesis statement by arguing that people who make decisions based on meaning rather than money are happier than those who put money first. I agree with Britt. Would you rather spend forty years on a job where you hate every minute of it but it has a high salary, or spend those same forty years on a job that you love and are passionate about but with a much smaller salary? To me, the answer is simple: I would rather have a job that I absolutely love rather than one I despise because I would look forward to going to it every day, thus making me a happier person overall. Another similar study conducted to 4,000 United States adults also reinforced Britt’s thesis. This time instead of using college students, middle-aged adults were asked to rank activities based on importance. To no surprise, activities such as spending time with family, friends, and outdoors were chosen as the most important while career was ranked 8th. According to this study done by the Pew Research Center, those surveyed who ranked time spending activities were happier than those who hadn’t.

Aside from this, money can buy some happiness. The perfect balance between happiness and money is 95,000. Of those surveyed who made this salary, the vast majority reported that they were happier than individuals making more or less. “Once the threshold is reached, further increases in income tend to be associated with reduced life satisfaction and a lower level of well-being”, – according to Natural Human Behavior (Britt). This is saying that the more money you have, then the more money you can spend but only to a certain degree. Now, rather than be on materialistic goods or even time-oriented activities and experiences, you typically need money to spend on leisurely activities. Sure, the best things in life are free – such as spending time with family and friends, but money makes that precious time more enjoyable. Would you rather spend your personal time with friends and family by taking walks or by going to a leisurely activity such as bowling or a trip to an amusement park? Both are nice, but a trip to an amusement park will be more memorable and enjoyable. Another point brought up by Britt was that the older someone gets, then the more time they want to spend with friends and family rather than at a job. I also agree with this as it is especially true with parents with aging kids. As parents find their kids growing up, they want to spend those last few precious moments with them before they’re thrown out of their lives. Now, rather this be through college, work, or starting their own family, the chances are they’re going to be too busy to be spending time with their parents which just emphasizes this point even further.

Overall, I agree entirely with Britt that time can make you happier than money. Through the multiple studies done on young adults, middle-aged adults, and the fifty-plus crowd, they all yielded the same results. These studies were somewhat biased, though. They were biased because each one was done in a first world country. To fix this, I would suggest conducting similar studies in third world countries to see if you get the same results. I once again personally value money over time. Rather than getting a job, I chose to spend my high school career devoting my time to meaningful activities, such as spending time on friends and hobbies rather than on a minimum wage job, because face it- you’re only a kid once. You’re going to be working for the better part of your life after high school, so it only makes sense to kick back and relax before adulthood settles in. I could never see myself ten years ago as a senior in high school, but here I am. It seems as if each year is faster than the next, and the years don’t stop coming, and they never will until it’s your last. I already wish that I had more time to be a kid, and I would pay anything to have my childhood back, but once it’s gone it’s gone forever. The most famous last request for those on their deathbed is to have more time. To have more time to spend with family, to have more time to spend with friends, and lastly to have more time to do things that they always wanted to do but never could because they were too focused on a meaningless career. So yes, time does make you happier than money.

Money brings out the good and the bad in society. One of the perks of cash flow in this society is it brings us together. Money is the foundation of almost all our interactions. Half the interactions I have in public come from people who recognize me from work. Money can cause us to be drawn towards certain individuals and sometimes it causes hatred towards another. Money can make us envy people with no money, and be jealous of those who have an abundance. If you didn’t go to work to make money, you wouldn’t interact with your co-workers or customers. If you didn’t travel for work, you wouldn’t see Hawaii. There are a lot of interactions, and we take them or granted. Society has taken how much we interact for granted.

You go through at your day to life and come in contact with around 20 people. If you were to change one life a day, whether it be a smile or a 5-dollar lunch, then by the time you retire you would have helped 14,560 people. That’s 14,560 who now can help others. Imagine all the stories you would hear and the beautiful people you would know. The newfound relationships you could build. There would be a wave of goodness that wouldn’t crash without society. Cash flow has not only created interactions, but it has also created harder work individuals.

A society with cash flow contains harder working people, because money sparks self-discipline and drives us to push and pull. Studies have found money activates the same part of your brain that sex does. It gives some individuals the motivation to get out of bed every morning and slave a 9-5. This is not without a cost though. Money will motivate you so much that you will give up the most valuable gift of all, time.

Take a pencil and draw a timeline with nine notches. Label the notches 0,10,20,30 until you reach 80. Then draw a dot at 18 and one at 60. Now connect these dots with a line. This is how much of life you work 9-5.

That is all time that you wished retirement would come faster, or that you could go back to the golden days. That is 40 years of your life, wasted on a 9-5. For 40 years money has motivated you to waste time. It gives others the desire and motivation to chase financial freedom. Cash flow creates entrepreneurs and businesses owners to offer more for the society. 67% of wealthy people surveyed said that were not chasing the car, the trips, or the vacations, but financial freedom.

Money has also created classes. A society without money has no upper-class, middle-class or lower-class. Without money we’re just people with talent and our personalities to get us through life. There’s no more hiding behind expensive suits, nice cars, or your Kate spade purse. It’s just you and life and that scares the crap out of a lot of people. It makes me wonder what some of these people would do without money, who would you be? Are you just another jerk who’s self-entitled or are you the compassion that we lack in this world? Many people would be nothing without money. If you rely so much on something to make you, then you don’t deserve it.

If you take away money, a lot of people will lose their identity. They have no love, no compassion, no religion, they have only their drive to get rich.

Along with some good, money has also cause embezzlement, drug trafficking, sex trafficking, slavery and more. The desire of wealth has led us to invade other nations such as Africa (during the colonial times). When they learned Africa had a lot of natural resources, we had the equipment to access them, they marched over there and took over. They create slaves and stole lives. They stole virginity, they stole their home. They did it for power and money. This society is still the same. Nothing has changed, except now we do it secretly. People are still stealing lives for money, robbing homes, kidnapping girls. Money has created this delusion of power, and people will do whatever it takes to achieve this ‘power’. Without money there would be no point in crime, there would be nothing to gain or apprehend. There would be less gang violence, fewer deaths, less mothers crying over daughters or fathers who have no son. Money has revolutionized the way we examine at things.

The changing of our view on things has caused frustrations. For instance, when a wise man drives through the countryside, he views the peacefulness of the land and the grass puppies (cows) that graze. This man thinks all is complete and worthy. If a fool drives through the county side with animals grazing, he doesn’t think of the beauty. The fool thinks of the mall he could build to replace the ‘empty’ land. He sacrifices nature to work at becoming rich. Society wants to be rich, not contempt. The owner or farmer may not want to part ways with their land, but the fool convinces them with money. The fool then goes on to replace grass with road and trees with concrete structures. Not only did he purge the land of beauty, he causes frustration to the farmer. After a while the settlement will dissipate into food and rent because they now live in an urban area, forcing him to find a job at the mall. The once happy farmer is now signing his life away into slavery. Who do we put some much faith in money and not happiness? Will you just say its life and the society were in, there’s nothing we can change? Or can we?