Economics science has changed the way society operates and tries to find ways to gather resources and utilize them in the society. Capitalism has allowed a free market for the generation of wealth and to obtain that wealth according to one’s own means. Living with a free economy has indeed empowered society but at the same time, it is difficult to deal with the trials that human nature and society need to go through in the face of monetary gains. Individual perception of self and vested interests, justice and morality are concepts that are entwined in the web of economics and its impact on society. (Younkins).
The society today has been motivated to not only serve itself but to impress others and seek others’ approval. People have adopted different ideas of morality, and their perception of themselves revolves around pleasing others, becoming better than others and being as much involved in the commercial world as they can. This creates an unneeded tussle between people which interferes with their moral judgment. (Younkins). Money is the ultimate aim and in order to gain it, they can go up to any level. This also marks their sense of justice. For instance, if a family is wealthy and has enough financial means to sustain themselves satisfactorily, they could do justice to the wealth by helping a poorer and underprivileged family. But since the struggle for wealth and topping another person’s bank account is the main aim, it blinds them from doing this justice and the wealth then, unjustly, circulates in the same circle of wealthy people rather than benefitting the needy. (Younkins).
Economic science has improved the conditions of many people; it would be wrong to say that its impacts are only negative, however, the more wealth a person generates in this system, the more they lose the essence of their own self. Selfishness, greediness and lack of empathy prosper, and people become victim to immorality and injustice at the hands of wealth.
Work Cited
Younkins, W. Edward. Adam Smith’s Moral and Economic System. Quebecoisilebre. Montreal.
2005. Web. 29 Jan 2016.
