Material Value of Money
Human beings exert themselves in productive movements which release energy and produce results. Physical need moves them. Mind prompts them to work productively. The body converts its energy into work and enjoys the fruits of its own labor. Money is a means to convert the fruits of human labor into a form that can be stored indefinitely, transported readily, and transferred easily to another person in exchange for goods or services. Subjectively for each individual, it acquired value because it represented the use value of his or her human energy applied in productive work and the goods and services produced by that work. Money became a symbol to represent the value of work, the things it produced, the property on which it was produced and into which surplus production may be converted.
Read more about this topic: Social And Psychological Value Of Money
Famous quotes containing the words material and/or money:
“Any so-called material thing that you want is merely a symbol: you want it not for itself, but because it will content your spirit for the moment.”
—Mark Twain [Samuel Langhorne Clemens] (1835–1910)
“People will no more advance their civility to a bear, than their money to a bankrupt.”
—Philip Dormer Stanhope, 4th Earl Chesterfield (1694–1773)