Question

Business and Financial Risk – Ecclesiastes 5:10-20 addresses money. He who loves money will not be satisfied with money. The desire of the rich is to have, always, more money. This is related to the love of money. Keep in money that money is a medium of exchange and as such was created by God to enable a financial system that convenience exchanges of money for products or services.

Answer 1

Solution:-

They say a dollar saved is dollar earned. While no doubt that it is true, it is equally true that every dollar that goes unspent is a dollar never earnt. Money is only worth the use it can be put to or what it can buy.

The rich and their love of money leads them towards an obsession of making more money and increasing their wealth on a continuous basis. This has lead to accumulation of disproportionate amount of wealth for the rich people around the world.

It seems that desire for making money is a never ending phenomenon with billions of dollars accumulated by the rich people around the world. If a rich man's wealth were to be compared by the money he has spent in his life, there would probably be huge difference which just goes on to show that the love for money takes rich towards never ending desire of accumulating money rather than using it to buy something that's of real value.

It is clear that money is only as good as what it can buy. Money acts as a medium of exchange and enables people to buy products and services that they would want to consume. Therefore, money acts as a tool that lets people consume. However, continuous accumulation of money by rich without necessarily earning it to consume just shows that they are never satisfied with it and it becomes a never ending cycle.

They say that we are not the owners of our wealth but we are trustees of it. While that statement highlights the important of charity, it also signifies the point that the purpose of money in a society is activity which creates financial growth and welfare. It is crucial that we as a society perceives money in the right way. Every dollar that goes unspent or unused in the right direction is equivalent to taking a dollar away from society. Everyone must see money as a medium to contribute the growing activity in an economy, whether that happens in the form of consumption of goods and services or in the form of investments in businesses.

Wealth accumulation without putting money to active use hurts the very purpose it was created for, i.e. to act as a medium of exchange, contribute to continuous activity which results in stable financial growth for everyone.