The Negative Effects Of An Economy Starving For More Money

1169 words - 5 pages

Are the people living now happier than those who grew up in the past? Our money system relies on a constant increase in money circulation. The everyday needs were met in the seventies just like they are now. The only difference now is that everything people want or need is reached on a much larger scale because our economy is always trying to keep up with the debt. When the flow of money slows down the banks crave a new alternative to quench its never ending thirst for more. The people are the ones who have to meet the quota or they will suffer. This is a problem because it forces people to basically need money in order to survive in present day. It causes money to almost be a part of them and that is not natural to the human soul. When something unnatural becomes part of a human it can have a negative outcome on their actions. Another way to look at is if humans are born to survive the challenges they face then they will do anything to gain money because it is simply a way to survive. This is why money was able to transform into an empire that needs to keep growing to provide better protection for all the people part of it. Empires have to meet certain requirements to continue functioning. In order for the current money system to work it requires debt, new categories where money can exist, and the constant use of the world’s resources.
Every time a bank creates money and lends it to someone, that person not only needs to pay back the debt, they need to pay back interest on the debt, interest which literally does not exist.
“Money goes towards those who create new goods and services and this is why there are not many jobs to be had reclaiming the commons and protecting natural and cultural treasures” (Eisenstein 103). Banks are only concerned with their profits so their mainly interested in the people who have the best chance to pay back loans with interest. The people in the middle class relies on the banks to keep its consumption going are the middle usually have the best chances of creating a profit are the ones who are already extremely wealthy. This gradually increases the wealth of the richest people and forces more people into the lowest class. The banks want to continue making money, which results in a higher debt. If the loan that the bank hands out is not able to be paid back by the customer the bank will place an even higher interest rate so they will not lose money of the deal. If the economy can not keep up with the debt then the people will suffer. If debt is what the money system needs then there will never be a time where people are not chasing after it.
If a person receives a loan they are obligated to pay it back and in order to do this they need to use resources to keep up with interest rates. To keep up with the interest rates issued by the banks there has to be expansion. Expansion means more resources. When the possibility of becoming broke hangs above someones head they tend to forget about their morals. This is a...

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