Why do we need money?

I heard today that many children think money just happens to appear out of a hole in the wall when required! Why should they not? It's logical really. When I was a little girl many moons ago I thought that as long as my mum had checks left in the checkbook then she could go to the bank and take out as much as she needed. Oh wish!
Why do we need money?
Greek Philosopher and scientist Aristotle explained in his Politics in c 330BC why money had been invented. The art of acquisition, he said, for which a currency was required, arose out of the simpler barter of goods, which he saw as quite natural and healthy. But when ‘The supply of men’s needs came to depend on more foreign sources, as men began to import for themselves what they lacked, and to export what they had in superabundance: …in this way the use of a money currency was inevitably instituted.’ And then the trouble began.
Because there is a distinction, as Aristotle pointed out, between essential and therefore laudable expenditure for the daily needs of food, shelter and clothing, and the acquisition of money for acquisition’s sake by profit associated with retail trade. The latter he censured:

"because the gain in which it results is not naturally made, but is made at the expense of other men. The trade of the petty usurer is hated with most reason: it makes a profit from currency itself, instead of making it from the process which currency was meant to serve. Currency came into existence merely as a means of exchange; usury tries to make it increase."

For good reason it seems, Aristotle did not trust money because he could see that it could feed an insatiable desire way beyond what was necessary for our needs and he saw this as unethical.He had a good point.

In addition to life’s basic survival necessities of warmth, clean air, medicine, clean water, food and housing, all human beings worldwide have a need and a human right to be free, to be respected as equals, able to choose their own destiny and to fulfill their full emotional, intellectual and spiritual potential. We are all entitled to the five basic human justices, of monetary and social justice, economic and environmental justice and of the right to peace.
But how to achieve this?
One of the reasons behind the appalling riots in English cities last summer was given as materialism. Now that should hardly be surprising. Given the huge disparity between the rich and the poor, is it any wonder that youngsters crave what they see as the material goodies flaunted by other people, as fuelled by marketing?
I believe that global justice will only come from our compassion and vulnerability and spirituality, qualities that need to be reflected in our financial housekeeping.

Satish Kumar writes: "This notion of spiritless existence can be described as materialism. All is matter; land, forests, food, water, labour, literature and art are commodities to be bought and sold in the marketplace - the world market, the stockmarket, the so-called free market… Business without spirit, trade without compassion, industry without ecology, finance without fairness, economics without equity can only bring the breakdown of society and destruction of the natural world. Only when spirit and business work together can humanity find coherent purpose." (Spiritual Imperative, in Resurgence).

Adapted from Healing this Wounded Earth 2011

Occupy London at St Pauls and Economic Justice

So the Occupy Wall Street protestors have been evicted from their tent city in Manhattan. I went to London the other day and walked around the Occupy London Stock Exchange tent city outside St Paul's Cathedral. And I met and talked with many very pleasant, very thoughtful and intelligent people who understand very clearly what they are doing and are peacefully calling for economic change. They are fed up with the "fatcats" getting richer, the poor getting poorer, the huge inequalities and injustices in the world, etc etc etc. The site is very well organised, very peaceful, attracting much public support, and the police looked bored stiff! These people are echoing so much that I have written in Healing.... and so I donated a copy of my book to their library as it will be of interest to many of the protestors there. And I thought it appropriate to post some excerpts here over the next week or so, in between postings on Apocalyptic thoughts! (Perhaps there is a link!):

"When the last tree is cut, the last river poisoned, and the last fish dead, we will discover that we can't eat money..."
Greenpeace message on one of their longest banners. (1)

"This notion of spiritless existence can be described as materialism. All is matter; land, forests, food, water, labour, literature and art are commodities to be bought and sold in the marketplace - the world market, the stockmarket, the so-called free market… Business without spirit, trade without compassion, industry without ecology, finance without fairness, economics without equity can only bring the breakdown of society and destruction of the natural world. Only when spirit and business work together can humanity find coherent purpose."
Satish Kumar, “Spiritual Imperative,” Resurgence (2)

In 1976 an economics professor Dr Muhammad Yunus conducted an experiment. He gave the equivalent of $26 to each of 42 workers. From this they all bought materials, spent a day weaving chairs or making pots and were able to sell their wares and repay the loans. Thus was born the concept of microcredit.
Microcredit refers to small loans of less than a few hundred dollars, with no collateral, at nil or no more than commercial interest rates, made to help the poorest of the poor in the third world to start up small enterprises. This enables them to spread their productive capacity and gain some measure of independence and a better standard of living. For Yunus’ subsequent work with Grameen Bank, which was founded to foster this use of microcredit, the 2006 Nobel Peace Prize was awarded to them both in equal shares, for ‘their efforts to create economic and social development from below’, while improving the lives of millions of people in Yunus’ native Bangladesh.
As a young child I won a ten-bob note. That was a considerable prize in those days. I was so excited. I could buy another nature book to add to my collection! How did I win this? For spotting the deliberate error in an article in our village church magazine, which misquoted the Bible as saying money is the root of all evil. Much to my dismay my mother suggested I should immediately volunteer to return this prize to the church. I still vividly remember having the collecting box held under my nose in the vestry by the priest and putting the note very reluctantly back through the slot under my mother’s watchful gaze.
The lesson I had to learn was a hard one and it obviously made a deep impression! As a Christian I should be generous to those more in need than myself. But the ethics of the situation were lost on an eight year old. I had always been told we could not afford those things that my best schoolmates enjoyed, such as a pony or dancing lessons, perhaps a new bike. I was quite discouraged from entering similar competitions again. And I certainly learnt the meaning of voluntary compulsion!
In fact as with so many Biblical references the saying is taken out of context and is not complete. The full quotation reads: ‘For the love of money is the root of all evils; it is through this craving that some have wandered away from the faith and pierced their hearts with many pangs.’ (3)
So I believe the lesson of the ten bob note was more profound than my mother may have realized. I was learning the hard way that I had to avoid any love of money for its own sake: that there is so much more to being human in this world than striving for the accumulation of monetary wealth and possessions.
Real wealth is not about money: it is about spiritual wellbeing. It seems that we have largely lost sight of the spirit that is in all matter. As the human ecologist Alastair McIntosh observes in his inspirational book Soil and Soul, ‘We are materially richer than ever before and yet suffer a spiritual poverty…we live, but suffer spiritual death. Our very accomplishments cut us off further from the soul.’ (4) Real security and happiness that we all seek, consciously or unconsciously, will be found in spiritual wealth, for which we have a great hunger.

1. Greenpeace website.
2. Kumar, Satish, in ‘Spiritual Imperative: Elegant Simplicity is the way to Discover Spirituality,’ Resurgence (March/April 2005) issue 229 at http://www.resurgence.org/magazine/article653-SPIRITUAL-IMPERATIVE.html
3. Holy Bible, RSV, 1 Timothy 6.10
4. McIntosh, Alastair, Soil and Soul: People versus Corporate Power, London: Aurum Press, 2004p. 4.

© Eleanor Stoneham 2011 Excerpts from Healing This Wounded Earth