Money is the root of all evils as the famous sayin

Money is the root of all evils as the famous saying goes, but is money really evil or we are denying that it has truly contributed to the growth of economics and finance of the world. Money becomes evil when excess greed captures human imagination but it is a boon if used judiciously and wisely.

History is full of stories about money wherein lust for it can lead to biggest financial disasters but good use of it can bring in economic development. Sumerians used clay tablets and other devices as a form of facilitating trade and sometimes as forward contracts thousands of years before. This facilitated trade, commerce and business. This is a good example of how money in form of tablets can help in commercial development. As the story goes this was the greed of money only that brought about the decline of roman civilization wherein plunderers led crusades for gold and other valuable items vanishing the roman empire from its glory.

Trade in the medieval period required credit for leading long voyages to far corners of the world, the banks though in the first stages of the development landed credit to merchants in return of interest from them. In Merchant of Venice, Shakespeare carves out a beautiful character of a lender the villain demanding merchant's friend as a ransom to give loan. If merchant journey was successful then all is well otherwise not all is well.SO in a way this banking system which flourished at the shores of Italy facilitated world trade bring the world together and leading to major changes in world's political and economic turmoil. Money here was important no doubt about that.

Wars waged like the Napoleonic wars or the inter-state wars in Europe or the civil war in North America all required money. But from where the money came from, it came from bonds issue by the govt. or other third parties. So money financed wars and led to political turmoil. It was lust for money and