Money, an essential aspect of our lives, drives our daily decisions in various ways. Whether be for financial stability, personal growth, or societal contributions, earning money is a significant part of our existence. However, the ethical implications surrounding money-making raise thought-provoking questions that challenge our perspectives and values.
Main Body:
1. Financial Stability:
Earning money is crucial for attaining financial stability and freedom. Through financial security, individuals can meet their basic needs, provide for their families, and plan for the future. According to a study by NerdWallet, financial stress negatively impacts mental health, relationships, and overall well-being. (Source: https://www.nerdwallet.com/article/finance/money-and-stress)
💊While I do cite reputable sources, I am not a medical professional. Please use professional medical advice when making any health-related decisions.
See MEDICAL DISCLAIMER.
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2. Personal Growth:
Making money often necessitates personal growth. And vice versa. Whether it be through acquiring new skills, pursuing higher education, or taking on challenging opportunities, the process of earning money pushes individuals to develop and improve themselves. A Forbes article argues that professional growth is closely linked to personal happiness and fulfillment. (Source: https://www.forbes.com/
sites/danielnewman/2019/08/26/the-inextricable-link-between-
professional-growth-and-personal-happiness/?sh=5bae334f2447)
3. Societal Contributions:
The money we earn allows us to actively contribute to the betterment of society. Whether it is through philanthropy, supporting local businesses, or investing in innovative ventures that address societal issues, money can be a powerful tool for positive change. A study published in the Journal of Economic Psychology suggests that individuals who engage in prosocial spending experience increased happiness. (Source: https://www.sciencedirect.com/science/article/pii/S0167487020301698)
Ethical Considerations:
1. Wealth Inequality:
One of the primary ethical concerns surrounding money-making is the growing wealth disparity. Critics argue that an unfair distribution of wealth perpetuates social injustice and hinders social mobility. The World Inequality Report provides a comprehensive analysis of wealth inequality across different countries. (Source: https://wir2018.wid.world/)
2. Exploitative Practices:
Many businesses and industries employ unethical practices in their pursuit of profit, such as child labor, environmental degradation, or unfair wages. Responsible companies and organizations prioritize ethical business practices, ensuring fair treatment of workers, sustainability, and transparency. The Ethical Trading Initiative provides insights and resources on responsible business practices. (Source: https://www.ethicaltrade.org/)
3. Materialism and Happiness:
The association between money and happiness remains a contentious debate. While financial stability is essential, the pursuit of material possessions can lead to a superficial sense of satisfaction. A study published in the Journal of Happiness Studies explores the relationship between money, materialism, and happiness. (Source: https://link.springer.com/article/10.1007/s10902-019-00188-4)
Last Thought: All of the above explains why I continue trying to have this hobby cover for some of its consumption of time and money. That’s a separate, but important skill in itself. I guess we’ll see, but I have to keep it fun for myself no matter what.
Mike
💊While I do cite reputable sources, I am not a medical professional. Please use professional medical advice when making any health-related decisions.
See MEDICAL DISCLAIMER.
An Apparently Necessary Nexus
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