Money and its Value in Society
Money means different things to different people. There are those who consider money to be security while others consider it to be a form of investment. Michael Sandel's work on money serves to convey the deplorable value of money in the contemporary society. According to the scholar, money has become an increasingly powerful tool in the society. Subsequently, the component is subject to various forms of abuse by different individuals in the society. Mainly, the subject group uses money to access tools and materials that should not be acquired by money.
The Inequality of Money
With regards to money, Sandel suggests that inequality refers to the unequal distribution of available resources in a given country or institution. Based on his interpretation, inequality is prompted by intentional human actions. Mainly, the concept is shown to be a result of greed and deliberate manipulation. For instance, individuals who are able and willing to purchase given products or opportunities will do it to limit the purchasing power of those who are unable to achieve the same. Subsequently, the deserving may be prevented from accessing the subject opportunity. Such an outcome results in even more inequality within the subject setting. To mitigate the manifestation of such disparities, Sandel calls for the review of the understanding of the market from the idea that it is merely a place of exchanges. By placing a limit on the cash intermediation, the society will be able to realize even more efficiency and less inequality. Thus, markets will still exist even if there is money involved, or not involved in the exchange initiatives.
The Unattainability of a Modest Life
Alternatively, Sandel suggested that a modest life becomes unattainable in a society where the majority of the commodities are up for sale. Individuals who can afford the products tend to use the opportunity to limit the effectiveness and quality of life for individuals with lesser money. However, such should not be the case. Limiting the influence of money facilitates the realization of factors such as education and healthcare for the majority factors in the community. Essentially, such an approach to money elevates its importance. The more money one requires, the less the value of the product that they seek. As money becomes an indispensable part of human life, the distribution of income and wealth becomes wider.
The Influence of Money on Satisfaction and Ethics
In reflecting on the importance that is placed on money, Sandel argues that money does not necessarily lead to more satisfaction in the individual. Therefore, purchasing power through money does not warrant one enhanced access to factors in the Maslow's hierarchy of needs. Such an understanding explains the need to curtail inequality as prompted by purchasing power. While an individual may commit to the purchase of more, their level of satisfaction is subject to a limit after which any excesses will not be beneficial to the subject. When marginal satisfaction is curtailed and the individual continues to consume the subject product, they are limiting the next individual's ability to acquire the given service and ultimately generating less satisfaction on the individual. Some of the highlighted factors that should not be subject to the influence of money include healthcare, education, and influence.
In reflecting on the influence of money, Sandel argues that money limits the practice of ethics in the market. Previously, market facilitated the realization of equality because some products were not subject to the element of money. Thus, even if an individual had money, the policies underlining the given product would not allow the purchase of such an item. With the advent of capitalism, such an approach to the market shifted radically. In the current setting, everything has been commodified and thus limiting the ability to impose fairness in the subject setting. Contrary to what market enthusiasts claim, market exchanges are not the subject of voluntarism. When individuals realize that they cannot purchase a given product given the limits in the money factor, they may opt to sell the next available resource which was important to them. For instance, kidney sellers are sometimes inspired by the need to access various basic needs which were not accessible given the placement of their economic wellbeing. Overall, morality is perpetuated when equality is witnessed as a result of the influences of money. The allusion serves to decry the prevalence of use of money in the general market.
Developing Effective Study Skills
I was able to develop the ability to divide information into various segments depending on the significance. Collectively, information may be redundant if it is not organized into segments that reflect their importance. Such initiatives are also aimed at avoiding boredom and redundancy in the study experience. The study skill plays a crucial role in ensuring that I do not miss a relevant concept.
Improving Study Habits
Mainly, I wish that my tutor would teach me on how to adequately plan for my studies and to stick to the identified schedule. Currently, I tend to procrastinate given the lack of a succinct schedule that would reinforce my commitment to the study initiative. I also would like my professor to teach me on the appropriate ways to take notes in the study of a given concept.
