The Value of Money

In money news an article about money "Time to End Monopoly of the Dollar" by Julie Crawshaw gives a good idea of how we value a dollar. We place a value on this paper and use it to purchase goods and services. As the years go on the value of that dollar becomes less and less. It creates a way for things to be priced and valued at more then they are actually worth. With placing a value on the dollar we have create a false idea of how much something should be.
According to Locke money represents labor value. The value of labor that was put into an object to create something that consumers want to purchase is the value that it should be old for in the market. Money according to Locke is stored up labor value and since money can't spoil people can acquire as much as they please. So who really gets to decide the price tag placed on the product?
Today we place a value on the dollar but the real value is in the labor. Things should be priced according to the amount of labor put into it, with the dollar value. If the value is in the dollar are we paying for the dollar or the labor? Or with the value of the dollar in a decline are we paying for both? Locke would say that men have agreed on the use of money so the unequal possessions are ok! People work to gain money and so what they acquire and are willing to pay is in the hands of the consumer.

Aristotle and the Banks

Aristotle believes that money should not be saved. Gaining interest on money is wrong. Money was meant to be spent, used to buy property to build a household. Banks today take advantage of people's money. Making profit off of the money people put away to save to create a better life for their family and household is not what money was intended to be used for. Another big point made by Aristotle in his books is the idea of greed and how property should be common for the good of the community. This meaning that we should share our riches; use what we gain to help others less fortunate.
JP Morgan Chase is one the banks profiting higher this year then in previous years. This can be surprising considering the circumstances of the economy today. Where unemployment rates are high and many markets are in jeopardy, how are banks getting so much money? What are they doing with their high profits? JP Morgan Chase plans to pay out the money in bonuses. So the money they are gaining off of ordinary people they are giving it back to themselves. According to Aristotle this would be considered wrong. This is the wrong use for money and it is not helping the community. Aristotle believes that people should use their profits to better the community, what the banks are doing is not that. JP Morgan is just the first bank to report these profits. This is only the beginning but will any of the banks use their profits to better the community or will they all pay out their profits to themselves in bonuses?