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1 Timothy 6:10
“For the love of money is the root of all evil: which while some coveted after, they have erred from the faith, and pierced themselves through with many sorrows.”
King James Version (KJV)
originally posted by: Profusion
1 Timothy 6:10
“For the love of money is the root of all evil: which while some coveted after, they have erred from the faith, and pierced themselves through with many sorrows.”
King James Version (KJV)
I've worked in both the private and public sectors. I've got significant experience in both. Here's my main conclusion...
The love of money is the root of a lot of good.
Why? The motive for profit keeps people honest (generally speaking), it provides lots of motivation for innovation, and it makes people more quality and customer-service focused, generally speaking.
When you take the profit motive away (in the public sector for instance), that is when the difference is really apparent. Why care about quality when your job security and your benefits are not linked to quality? Why care about innovation when it doesn't help you? In fact, making things more efficient can actually hurt you by giving you less opportunities for overtime. I don't think anyone would deny that's usually how it works in the public sector.
I have an explanation for why that is. When your day to day existence is predicated on doing a good job, you're going to try harder to do a good job than you would have otherwise.
If you want to get rich and that requires innovation, you're probably going to innovate.
If you just want a stable job without much stress, I think we all know where that goes...
originally posted by: NthOther
You know what keeps people honest?
Justice. Real justice, not the theater we see in our courtrooms.
Nothing puts the fear of God into people like the imminent possibility of meeting Him.
That's the justice the bankers deserve.
And we deserve a lot of it ourselves for allowing it to happen.
originally posted by: Profusion
The love of money is the root of a lot of good.
Why? The motive for profit keeps people honest
“For the love of money is the root of all evil: which while some coveted after, they have erred from the faith, and pierced themselves through with many sorrows.”
originally posted by: Look2theSacredHeart
a reply to: Profusion
Soooo, you think love of money is good because it motivates people? That's circular reasoning... Isn't that what love of money is in the first place...a motivator?
Generally, economists have defined four types of functions of money which are as follows:
(i) Medium of exchange
(ii) Measurement of value;
(iii) Standard of deferred payments
(iv) Store of value.
These four functions of money have been summed up in a couplet which says: Money is a matter of functions four, a medium, a measure, a standard and a store.
www.preservearticles.com...