Michael Josephson Commentary
Josephson Institute  >  Commentary  >  How Much Are You Willing to Pay for Money? 645.3

How Much Are You Willing to Pay for Money? 645.3

Disdain for money is a common theme among moralists and philosophers. But money’s not the problem. It’s what people do to get it and what they do with it when they get it.

 

In Fiddler on the Roof, a poor man sings of his daydreams of the wonderful life he’d have if he were a rich man. And surely it would be better. As someone once said, “I’ve been poor and I’ve been rich. Rich is better.” *

Yet the Biblical warning that “love of money is the root of all evil” reminds us to be aware of the difference between need and greed.

It’s one thing to make money a central goal to escape poverty and provide for basic necessities. It’s quite another when it becomes our primary motivation and measure of success or when we equate happiness or worthiness with wealth.

The love of money can have a powerful narcotic effect on our values. It can push us toward or keep us in unhealthy relationships and unsatisfying careers. It can lead us to undervalue the importance of relationships and work. It can make us into workaholics who neglect family and friends. And it can spawn dishonorable conduct that pollutes our souls and makes us unworthy despite our net worth

According to an old Hasidic saying, “One who thinks money can do everything is likely to do anything to get it.”

Perhaps Swiss philosopher Rousseau said it best: “The money you have can give you freedom, but the money you pursue enslaves you.”

The challenge is to put the value of money in perspective. In the end, the question is: How much are you willing to pay to have money?

This is Michael Josephson reminding you that character counts.

* This famous quote has been attributed to various people including Mae West, Sophie Tucker, and Gertrude Stein.

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Comments

People will do anything for money. They will also do wrong things for money. People need money for important things and things that are important at all. They will also need money for school and work. People are crazy for money because they think they will die if they don't have money. For me, I will give all my electronics and cards for money.

Many people think the rich have a way easier life than the non-rich. As someone once said, "I've been rich and I've been poor. Rich is better." Sure, life can be better with money, but what does it take to have so much money? How much are you willing to pay for money? Nothing is free. Either you have to work for it or you have to earn it. Sometimes when you earn one thing, you lose another. Just like the Biblical warning said, "Love of money is the root of all evil." This is warning you that money can bring you just as many bad things as good. For example, greed. Greed can get in the way between you and your family. That can break your relationship with them. So I think this passage is somewhat a warning to us: money is good, but how much will it cost you? Will it cost you your family? Your friends? Money has a price.

Some people are just willing to do anything for money. Money is not always good because it will just make you greedy like all the other people. Money will not just come to you. People have to earn it like doing kind stuff for people like helping the elders for free instead of charging them. Lots of people think that when they have cash, their life will be much easier. Greed is something that many rich people have because they think life will be much better and also it could take you away from your family. People who think money could buy you happiness are just crazy. The people are not the problem, it is the money they have.This is Miguel saying that character counts.

Money isn't the only thing in life. There are family and friends, but if you prefer to go with money as a friend, then forget about your family and friends. Money pays for a price and it is your life. Some rich people don't even have a family or a friend because they think money is power. Well, money isn't a friend, it is our enemy. Many people right now don't even deserve to be rich. I think they just sell drugs to people and get rich if they keep selling more. Last year, the United States had 1.436 trillion of dollars and they just wasted the money on natural gas, oil, and electricity. When we pay our taxes, I bet they get the same amount and then waste it again on the same thing. If I were rich, I would give some of my money to the people who deserve it. They work hard to get food, gifts, furniture, and they work mostly hard to get money. The poor don't care about the money. All they care is about their family. They don't need money for happiness and they are right. Like what Michael Josephson posted in September 14, 2009, when he posted the value of money isn't to the road to happiness. You don't need to buy all nice stuff to impress someone. All you need is to show your care and happiness. That is the road to happiness. There is another way to happiness and it is your family. So money is nothing. Your family is your life, not money.

A lot of people will do anything for money. The question for everyone is how much value does money really have? Is money more important than your family? Are you going to kill for money? What is more valuable -- money or family? Sure, there is lots of money in the world, but there is only one family like one wife, son, daughter in the world that belongs to you. So what will it be -- money or family? It is your one choice in a life -- time to love your family. The choice is yours, not mine.

I have recently taken a job. I have been at home mostly for the last few years with my children. My children at home now are my son, 16 yrs and daughter, 11 yrs. We live in a very small rural community. This job was offered to me at a time I had decided that I needed to work on my goals and dreams. I didn't really want the job, but the pay and benefits made it appealing. Before I knew it, I wanted the job. Feeling that my children were old enough to be okay alone for a few hours and also old enough to help around the house, I thought it would be a healthy thing. I now think I made a mistake to take on so much. I have already obligated myself to take care of several dogs and cats that came to me as strays. Also I have had a lifetime dream to raise a horse in which I was given a filly this last summer. She is my stress relief. Anyway, I have been praying for direction on this job. I am gone from home at least 4 days a week from 8:00 am to 7:00 pm by the time I commute. I like the money. I like to feel important that I am a pharmacy tech (although I don't feel I am smart enough for the job), but I feel like I'm trading my goals and my family and (critter) time off for something that most definitely is not worth the trade.

I thank you for putting this on air when you did, and mostly thank God for helping me have some answers to guide me.

I love your program!!

Money does make life easier. Money is not evil. It is what people do for money and what they neglect that is the problem, sometimes. Money is energy. Money can create freedom and a life that can be more comfortable. It is important to know that you can have money without being evil, neglecting your family or losing your character. Money is not the problem, people are.

Having money, enough money is a wonderful thing. Being able to pay your mortgage, buy food, pay utilities is great. Providing for your family is great. That's thinking within the box. When you peer outside the box, you see families who are struggling to make ends meet, families going to bed hungry, families without homes. After I pay my bills, I take the time to step outside of my cozy, warm environment and look at the rest of the world. I can take some of that extra money left over and give back to my community. A lot of money can be a wonderful thing, but helping others in need gives money true significance.

This article reminded me of a conversation I overheard between my daughter and her best friend when they were in junior high several years ago. My daughter's friend said, "I am going to be popular in 8th grade. I don't care how I become popular or what I have to do to be popular, but I will do it." Thankfully, my daughter recognized that her perspective was unhealthy and began to distance herself from her friend. Her friend did become popular and used drugs and drank regularly to try to fit in. I think there are similarities between money, popularity, or any other vice that you put above and beyond relationships (and ethics).

The adage “One who thinks money can do everything is likely to do anything to get it” has been illustrated repeatedly in the past 47 years of Great Society social engineering programs. These programs have been conceived from the notion that if we take enough from those who produce and give to those who do not, society will somehow be elevated. In reality, society has been degraded. This is articulated from Atlas Shrugged's John Galt character: "Your acceptance of the code of selflessness has made you fear the man who has a dollar less than you because it makes you feel that that dollar is rightfully his. You hate the man with a dollar more than you because the dollar he's keeping is rightfully yours."

Having been self-employed most of my life, I have long viewed money as something that is traded for time. Our time on earth (and more importantly with loved ones) is limited, so I view earning more money as a way to (hopefully) buy more time with those loved ones while keeping a balance as I work to earn it. I have had Rousseau's quote above my desk for years as a reminder, not to pursue earnings as the cost of time with family and church and friends but because it is true: “The money you have can give you freedom, but the money you pursue enslaves you.” I have also found that a basic way to avoid becoming enslaved by money is to avoid debt, also a biblical principle (Proverbs).

I hope that Alan who quoted from "Atlas Shrugged" is still young.

It was during the presidency of FDR that Social Security started. Would you have the elderly and disabled begging in the streets?

That is the problem with "Atlas Shrugged." It presents things in a black and white fashion; you either produce and deserve what you have because you earned it or you don't produce and are taking money that belongs to someone else. There is no differentiation between the lazy and the disabled, between people who are educated and those who have no education and cannot get a job. In addition, the book does not address how the factory owner would not be able to produce anything if it were not for the employees, who are often underpaid for their labor.


"Atlas Shrugged" was Ayn Rand's reaction to living under the Communist system in the Soviet Union. No wonder she saw things the way she did.

Those of us lucky enough to live under a system of government that allows us to elect our leaders and express ourselves freely should have no reason to complain about the fact that the disabled and unfortunate are given a little help along the way, especially these days when so many are out of work and desperately need the extensions in unemployment compensation that have been granted.

I am a 49-year-old man. Recently I came to realize that I would not be mature enough if I underestimated the influence of woman in a man's life, the power of money, and the weight of relationships. I feel sad and scared when I realize more and more of the fact that money is rightly called the god or goddess Mammon in almost everybody's daily life.

Max Bazerman has a great way to look at how people make decisions. He auctions off a $20 bill in his MBA class. The bill has never gone for less than $39.00 and as much as .... well, you read the article:

http://ming.tv/flemming2.php/__show_article/_a000010-001519.htm

He reports that he's made over $17,000 this way. It's incredible what people will pay to get money. Professor Bazerman's point is how poorly even MBA students at a top business school made decisions about money and what they are willing to do to get it, even when it's worth less than half of what they are paying for it (and in many cases, much less than half!).

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