Introduction
Does money corrupt and change behaviors, or do corrupt seek money to be distinct from others? Apprehensively, the destructive economic effects of money is diverse and it’s influencing the development, financial status, and the critical economic growth. In turn, this diminishes the productivity of the real sector economy in turn diverting the significant resources that could otherwise benefit its growth (Mayer, 1997). Generally, people consider money as a monetary value but at the same time a necessary evil, as it invokes dual influence. Comparing its influences, on one hand, without money, no productivity and performance from people as money launders the development of vital institutions that aids in eroding financially. On the other hand, through money, the sensitivity of people towards others diminish, and more so the substantial crime and corrupt
...ion has been reported as a brake on economic development.
For that case, the aim of this article is to articulate and closely examine on the destructive role money plays in altering and changing the character of a person. Arguably, as various studies indicate money has hastened vulnerability in deaths, as individuals are now seeking to be rich at a brick of an eye(Zhou et.al, 2009). In addition, conducted experiments have provided a critical assertion in attempt to diminish the destructive effects of money. As per the results, money was framed as being a social incentive, negative attenuated, and people were seen to have a change in their behaviors as a result of real-life and hypothetical scenarios with money. Framing social incentive in monetary terms, the destructive effect of money was very high in hypothetical scenarios, and so, clearly showed that money is the roo
of every good and evil though it’s highly influenced with people’s perceptions on their role. In other words money is capable of turning the world around as it encourages hard work and resourcefulness that in turn alters the success of economy.
Thus, there is need to put boundaries and strains on personal relation of money. Universally, distinct scholars have acknowledged the rise in the level of corruption globally, but in particular in Africa. Despite the made agreement to hold deal with corruption and the corrupt individuals, still corrupt politicians obtain offices. Actually, they are building on corruption, living on corruption, and working on corruption. Their behaviors tend to change the economic aspect through their choices, urge, and implications that are linked to corruption. The fact is money has taken control of everything in the life of individuals.
Almost everyone have stamped that having money really depresses ones status. Its effect on the psychological status is what seems unclear, but researchers has estimated the value of implication it poses on people’s performance and end up changing their comportments completely (Zhou et.al, 2009). If you effectively comprehend the positive impacts posed by money worldwide, then sure you’ll be capable of dealing with the destructive implications. Justly, people are motivated through money, making them to work harder than how they ought to be to achieve their goals personally.
From this facet, that’s where destructive social aspects are triggered as people becomes sensitive as still they want more and more money. They become less friendly, cautious, and egocentric – the main notion. Comparing the real characteristic of money, a coin has two sides; the good and the bad side. The good side
represents the positive impact posed by money value in the life of humans, while the bad side represent the destructive implications it has in changing the mind of a person to be corrupt, selfish, unsatisfied, and generally in changing his behavior. The amusing thing, but most bewildering at the same time is that many believe that having a lot of money could satisfy our yearning for basic needs. However, you find that a higher income may not significantly imply increase in our wellbeing.
Opposite to our expectations, in some cases we are faced by negative effects. Take for instance, in the United States, from 1946 to 1990, per capita income rose to 150%, implying a very big purchasing power, but led to rise in people considering themselves as unconvinced and unhappy. Also, in country like Japan, per capita income rose six-fold between 1958 and 19991, but the wellbeing of people stayed the same. Precisely, other studies have indicated that stressful people, lower enjoyment and increased rate of divorce are linked with higher incomes. In short, the significance of having huge sums of money might be offset because of the sacrifice many people are trying to make to balance every aspect of their lives. As Frank & Schulze (2000) asserts, increased level of money has posed character of capitalism and materialism in the lives of many.
The love money as possession is a disgusting morbidity, making many to be half-criminals and half-pathological susceptibilities having one hand over for greediness, and the other as selfless. Somewhat, psychology imposes a pretty grim picture of materialism, where individuals value money than anything else. This results in less happiness, and this is
the overall conclusion across almost all studies. Besides, they are mostly associated with mental illness and more depression, having worse relationship socially.
In addition, their social productivity of very low rate therefore less likely to engage with others in participating social events and other activities. They too have low perspective and perception towards marriage and children, making them to be less concerned with their natural context as they become more wasteful and less caring – no wonder they become more narcissistic because their empathy and cooperation seems to diminish. However, to some of authors, they claim that money doesn’t change the genuine nature of a person, nor does it make people to be egocentric and greedy, rather; they assert that if people were selfish, they could have asked for help when performing difficult tasks, and reject the idea of accepting more work than was indispensable. On contrary, commenting on the influence money has posed on character, motivation, and behaviors of individuals, Frank & Schulze (2000) demonstrated that the simple presence of money alters people’s behaviors in two ways; either constructively or destructively. Being exposed to money raises the notion of self-sufficiency and makes people to do everything they can to earn money, thus making them inclined to indulge themselves even to those things that thrash social relationships.
Additionally, Shleifer (2004) prospected on influence of money and came up with his indication that money alters even people’s motivation, making them to really work hard with the aim of achieving their targets. As a result, this acts a barrier to social closenessas they become less attached to other people. It is very clear that we humans don’t always identify
what makes us happy, that’s the reason why we value money very much just because our society value it too. We stick to the belief that money brings us happiness making our attention towards what is actually going on to divert.
Factually, consider the following facets; the corrupt acquire everything they would want to but the goods they acquire are always transitory. Taking for instance, when someone buys a big car, he really gets excited at first, but as time goes, he tends to take the car for granted just because there is monthly payments for the car, restricting them to enjoy and fancy with others in vacations and dinners out. Moreover, when our incomes goes upward, we change our standards of living because we feel the need for more expensive needs, and end-up using almost all our raises in living an expensive life. Agreeable, at no time will our needs be unappeasable since the more we earn, the more the needs, the large the debts, and the more the implications in our behaviors. Greater craving for materialism is associated with full packs of destructive effects.
A corrupt person has diminished self-esteem, less empathy, greater narcissism, and more conflicted affiliations.The title “What money can't buy”, by Mayer captures this perfectly stating that in real life, the needed pleasures cannot ultimately be bought (1997). After all, not everything that brings joy and satisfactory unto our lives, rather; if we perceive meaning, purpose, relationships, and connection to nature, then at that time we would be seeking to fulfil our main objective with money other than being disappointed when material things don’t provide it.Hillman, a European researcher conducted a vivid
study that showed how money has influenced the minds of people, making them corrupt and selfish (2010). Yet they become less helpful to the society as they ever want to indulge on their own activities not minding being excluded from the society. And as if this is true, people with big money choses what to eat, what to wear, what to do, and where and whom to spend their time and resources with. They spend more time in their own self-interests but less time in working.
Notably, wealthier countries have better infrastructure, people with improved IQs, but somewhat various reported cases of violence and corruption. So what’s the point, the way we spend our money matters a lot.Critical studies have shown that from deriving longer-term satisfaction, people splurge significant experiences but not with the case of accumulating possessions. Exposing people to money can cause big alterations in their actions but the problem is, those with money have no sensitivity of offering help to those in need, tending to work all alone even in situations where they could ask for interaction with others. On challenging tasks, they apt to work longer without asking for assistance.
Conclusion
By and large, no implications money have both constructive and destructive implications on our behaviors. Posing self-sufficiency and hard work on one hand, but at the same time discouraging some social positive interactions.The destructive economic effects of money is diverse and it’s influential to the development, financial status, and the critical economic growth.
Even with conducted experiments in attempt to diminish the destructive effects of money, as per the assertions, money was framed as being a social incentive, negative attenuated, and people
were seen to have a change in their behaviors as a result of real-life and hypothetical scenarios with money. The overall results of the study have shown that those who every time contemplates about money have negative attitude on others, rarely seek for help as they are self-centered, and diminished socialization with others. Comparing its influences, on one hand, without money, no productivity and performance from people as money launders the development of vital institutions that aids in eroding financial institutions. On the other hand, through money, the sensitivity of people towards others diminish, and as more so the substantial crime and corruption has been reported as a brake on economic development. The egocentrism, corrupt, and behavior change pattern elaborates why people perceives money as the root of both good and evil. Globally, countries and cultures are developing and still money have enabled people to suit and turn with development in order to pursuit their cherished goals.
In turn, this has decreased their relationship with family and friends, encouraging individualism and lowering their communal motivations – a main influence that is still vivid in position to people’s responses to money today.
References
- Frank, B., ; Schulze, G. G. (2000). Does economics make citizens corrupt?.Journal of economic behavior ; organization, 43(1), 101-113.
- Hillman, A. L. (2010). Expressive behavior in economics and politics. European Journal of Political Economy, 26(4), 403-418.
- Mayer, S. E.
(1997). What money can't buy: Family income and children's life chances. Harvard University Press.
- Shleifer, A. (2004). Does competition destroy ethical behavior? (No. w10269).
National Bureau of Economic Research.
- Zhou, X., Vohs, K. D., , R. F. (2009). The symbolic power of money reminders of money
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