Setting the Record Straight
Principles of Money
Ed Wondoloski, CPA
Professor Emeritus, Bentley University, Boston, MA USA
Money – what do we really mean when we say someone has a lot of money? Do we envision a scrooge with a warehouse full of cash? Money is more of a principle and contained within that principle is an attitude toward life. It’s about living life by: Being possessive or Being a trustee, Owning or Honoring what is provided to us from this planet, Consuming or Being responsible for the rich resources of this planet.
The other principle of money is that money needs to flow, to pulsate at proper levels that will support the necessary activity at any moment in time. It is this proper modulation or flow of money that supports what we call a healthy economy. Sort of like reading one’s pulse and blood pressure, it needs to be at an appropriate level to support the type of activity the body is performing at any one time. Not too high and not to low, just enough to support the occasion.
There are three economies that I am aware of that support the principles of money mentioned above: 1. The Dollar economy; 2. The Barter economy; and 3. The Gift economy.
In the dollar economy, value is measured by scarcity. In both the barter and gift economies, value is measured by the quality of the object. The Brahma Kumaris operate within the gift economy, using the pay-it-forward principle. In a pay-it-forward economy, money simply acts as a transport vehicle, getting one from point A to point B.
We provide our services free of charge – the Gift. If such services are of sufficient quality to the recipients, they will replenish the scholarships they received so that yet another could prosper and benefit. The more service the Brahma Kumaris perform, the more pay-it-forward scholarships are provided, thus supporting an economy of abundance rather than scarcity.