Money and Quality of Life

The research problem of this study is: Has money led to the decline in the quality of life, as suggested in George Simmel's The Philosophy of Money? According to Simmel (1978), money that was initially created as a human tool for transactions has come to dominate every aspect of human life. Many components that contribute to the quality of life are measured by their monetary worth. Thus, the creation of a rational and objective world that revolves around money has undermined the value of nonrational aspects of life such as love, which cannot be quantified by money (in Ritzer, 2000, pp. 276-7). Thus, the purpose of this research study is to determine whether Simmel's concern about the effects of money has relevance to contemporary society.

This writer agrees with Simmel's evaluation of the negative effects of money. The relentless pursuit of profits by corporations in modern society has become an integral part of the world economy. Although money was first established to improve the bartering system, it has transformed the transaction by becoming the desirable commodity. As Karl Marx (1867) describes in his work, "The General Formula for Capital," the capitalist is not interested in obtaining commodities for his use. Rather, he is caught up in the "restless never-ending process of profit-making" (in Kivisto, 1991, p. 33). For many people in this world, the constant expansion of money is their ultimate objective.

The research methodology used to assess the validity of thi

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Category: Philosophy - M