Is money really the source of all the evil on Planet Earth. Well, this is a rather difficult question.
Let us consider two points of view and give pros and cons to each.
There are seven billion people on our planet. Modern global economy is impossible without money. Money is used as a special means that connects people in economic relations. Contemporary financial system is very complicated and its development has helped the humankind to advance further in its development. Life is impossible nowadays without money. From this point of view we may definitely say that money is good.
What about the other side of the coin?
Ironically, money is considered bad because of the same reason as we have mentioned before. Its wide-spread has influenced people’s relations. Everything on Earth is spinning around the money. Money means power. The more money you have the more you can afford. Even in the ancient Rome the rich person who had a lot of money could afford himself to possess dozens of slaves. High demand for this third means of economic relations make some people go crazy about it. Many of us forget about other much more important things.
Sincere human relations, real attitude, friendship, true love can never be bought with help of money. In pursue of wealth and high status in the modern society many of us neglect natural values that are present in every one of us since the moment of birth.
Just like the human body the body polity or the country undergoes wear and tear followed by decay. Then out of the seed emerges a new chapter – akin to Nature renewing herself. Thus we have seen Economics admits that one upward cycle is followed by another. Regarding causes experts greatly differ about causes; the effects are there for all to see. Recession is said to be a decline in the GDP (Gross Domestic Product) of a country but when this happens for two or more consecutive quarters then it is termed recession. The exact definition differs from one school of economics to another.