This object is something people in the world value. It is something that has moved our society since it has been created. It is something that people need to survive in this world. The item I’m talking about is money. Money has been in this world since as early as 4000 to 5000 B. C. The currency of money has changed repeatedly throughout the years, and every country has its own money system. Wars have been started because of money; for example, the opium wars around
1800 were China vs. the British empire. The British were fighting for trade with China, but China didn’t want to associate themselves with the British. The British were desperate to attain more wealth and resources; they sent armies to them until they finally signed a treaty. That’s one of the reasons why money is so important to us. The value of money in our world will never change; our society relies on it. We use money to purchase a product we need or want, such as games, food, houses, etc. We use different bills to buy items: one, five, ten, twenty, fifty, and one hundred dollar bills. You can also use virtual money to purchase things. We have apple pay, Venmo, cashaap, and more. We’re in an age where you can buy through your phone.
As I was listening to the Island of Stone Money by Scott Fitzpatrick. It was interesting how the inhabitants made their own system of distributing money. Yap is located in the federal states of Micronesia. The tiny island called Yap has a population of around 6 thousand people on it. Since discovering the island, Diego DeRocha founded Yap’s island in 1526; many more adventures and explorers have taken the trip to the island. In 1903 William Henry Furness III stayed on the island for around seven months; while he was there, he learned more about Yap’s inhabitants. How to live, eat, and require survival items, but the one thing he found the most interesting was their money system. According to William Henry Furness III book, There was no metal; they only had stones. Their money was called fei. They also had different types of thick, solid, and large wheels that could go up to around 12 feet. Their stone money was made from limestone that they found on the island. Another fact about their stone money system is after an exchange, and the fei is too big to take, the new owner can decide to leave it on the former owner’s place. They’re a story by Milton Friedman about a group of people that went to the Yap island to collect a precious stone and bring it home, but things went wrong on the way back. A destructive storm happened, and to protect their lives, they had to let go of the valuable stone and let it sink in the ocean to survive the storm. When they were finally back home, they informed everyone about the magnificent stone, but it was lost because of the owner. In 1898 the German purchased the island Yap, but they found out that the paths. Were in such horrible conditions, so the head of all the areas was told to have them fixed. They were able to go and obtain the fei.
So back to the importance of money after the information about Yap. This is a very materialistic world that we all live in; mostly everyone wants new games, new cars, new clothes. Money holds much power in society. Some people have died with little to no money, and some people have risked their lives to acquire money legally or illegally, and they’re also greedy people who have had so much money they will never be able to spend throughout their lives yet still want more. That’s why people say the phrase “with money comes power.” but money corrupts many individuals; a person could have been kind and gentle when they had little money, but when they end up getting so much more, they could end up selfish, corrupt. Money can change individual nature. A study titled “Money on the Mind” goes more in-depth about how money affects individual behavior. Paul Piff, a student doctor in psychology at the University of California, conducted a test on some people but telling them to perform some task, for example playing dice games, monopoly, and the results he received from his experiment was something he didn’t expect. Paul Piff stated, “You become less attuned to all of the other things that contributed to you being the position that you’re in,” He found out that people showed signs of more greed and less feeling. Paul Piff also discovered another thing during his experiment: rich people will encourage lousy behavior, for instance, robbing other people, but later on, he received more information. That if you’re more giving, you will be more satisfied with life and be more willing to show you are as an individual to people.
In conclusion, i know the value of money in our society will never go away, but its use will definitely change one day. Our government holds the power of how much our money is worth. They move us with money; they need us to keep going as long as we continue to have faith in our money system. If everyone just chose not to care about money and start robbing everything in sight, everything would collapse. Money is like a prescribed drug we need to continue living. Without it, we will die As I said before, If we end up not caring about money and government, everything can become chaotic. I already know their many faults in our system, like the government cheating people and some of the banks stealing from us. I hope it gets better one day, but for now, we have to live with it; there are the terrible parts of it, but their also good money has helped us advance as a society; we wouldn’t be where we are without it. Money is worth differently for everyone, in my opinion—for example, a trader vs a cyclist. They both have their idea of money.
“The History of Yap Island from 1500 B.C. to Present.” Yap State Visitors Bureau and Tourism Resource, 18 Feb. 2018, www.visityap.com/culture/history-of-yap/.
MAMcIntosh. “Hard Currency: Stone Money of the Yap Islands.” Brewminate, 23 Aug. 2018, brewminate.com/hard-currency-stone-money-of-the-yap-islands/.
The Island of Stone Money – Items – Collected Works of Milton Friedman, miltonfriedman.hoover.org/objects/56723/the-island-of-stone-money?ctx=128abf37-5644-46f6-9f5f-32fa286cb160.
“Why Does Money Have so Much Power?” HR Future, 9 Jan. 2019, www.hrfuture.net/talent-management/personal-development/why-does-money-have-so-much-power/.
“Does Money Corrupt? A Controversial Study Explores the Effects of Money on Human Behavior.” Google, Google, www.google.com/amp/s/www.deseret.com/platform/amp/2013/7/19/20522733/does-money-corrupt-a-controversial-study-explores-the-effects-of-money-on-human-behavior.
About the author Author: Pamela HyattI am the Content Marketing Specialist for the Forum for International Trade Training (FITT). You can find some of my work on TradeReady.ca. My background is in copywriting, et al. “3 Of the Biggest Historical Wars Fought over Trade.” Trade Ready, 20 Jan. 2020, www.tradeready.ca/2016/global_trade_tales/3-biggest-historical-wars-fought-over-trade/.