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The importance of money in the modern economy
The importance of money in the modern economy
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We should keep the penny because it has history, in fact it was “the first currency authorized by the United States” (Lewis). The penny no longer has the value that it used to have, but it is still necessary to make purchases as accurate as possible. The penny may seem like a waste of time to many Americans because it takes so long for cashiers to make change, forcing people to wait in line, but it is actually worth the time spent. The penny helps with keeping prices a cent lower, and therefore stimulating the economy. The penny is important to many people who need the money and for whom pennies still have value. Even though members of Congress are trying to ban to penny, Americans can spare the time to use them. In Ric Kahn’s
The Penny is a wonderful coin. It might only be worth one cent but that one cent can help people in all sought's of situations. The penny should kept in circulation. There are many people that use the penny still in today’s society.
Throughout the past decade, costs of everything have skyrocketed. According to Source C, America used to have “five and dime stores;” now its a dollar store. In addition, no one can buy anything with just a penny anymore. The source also made a fair observation that these worthless zinc disks are, “behind chair cushions or at the back of sock drawers next to your old tin-foil ball. Quarters and dimes circulated; pennies disappear because they are literally more trouble than they are worth.” According to a New York Times article, “it takes nearly a dime today to buy what a penny bought back in 1950.” The penny is still stuck in the 1950s while America just keeps moving on. As stated by Mark Lewis in his concept of establishing a bill, “the bill would not ban pennies, but merely discourage their use by establishing a system under which cash transactions would be rounded up or down.” (Source A) This motive will help keep the America exceed and
They must be eliminated, but you might think. Wont prices go up and charities lose money? No. new zealand , finland, and the netherlands stopped using the one cent or the one cent euro and noticed no change in cost instead they round to the nearest five cent. Anyways the US has already gone through this process without trouble like the half cent it was eliminated in 1857 because it was too little worth. Another thing is that everyone loves lincoln so they might think that his monument might be taken away but taking away the penny won't take away his memory we will still have him on our five dollar bill which won't go away. Yes you might think it is unpatriotic or disrespectful to take away lincoln but the us military is not using pennies because they have already realized that pennies are useless and not needed so they round to the nearest five cent. So basically pennies just aren't worth making, they waste people's time and they don't even work as money like they are supposed to, and because of inflammation lose more value every year making them making everything
Safire, William. "Abolish the Penny." The New York Times. The New York Times, 02 June 2004. Web. 09 Nov. 2013.
Millions of Americans work full-time, day in and day out, making near and sometimes just minimum wage. In 1998, Barbara Ehrenreich decided to join them in part by the welfare claim, which promises that any job equals a better life. Barbara wondered how anyone can survive, let alone prosper, on $6-$7 an hour. Barbara moved from Florida to Maine to Minnesota, working in the cheapest lodgings available and accepting work as a waitress, hotel maid, house cleaner, nursing home aide, and Wal-Mart salesperson. She soon realizes that even the lowliest occupations require exhausting mental and physical efforts and in most cases more than one job was needed to make ends meet. Nickel and Dimed reveals low-wage America in all of its glory, consisting of
Many of Americans view the every day penny as only one cent that carries only little to no value, which is why they wind-up stashed away at the back of drawers. What most people don’t have a clue is the value it once held back in the days where a can of coke was about one cent. Our very own citizens who once fought battles and came home scarred knew that the penny wasn’t just one cent, it was the blood shed, their fallen brothers, and the never ending tears that symbolized one single Lincoln. Pennies are worth more than their currency, they are the history of our home and the beginning of where we stand today.
As of today America’s national debt is 18 trillion dollars and approximately 5 trillion of that is held by foreign countries including China and Japan. In the last few years we seem to hear more about balancing the country’s budget and politicians raising the debt ceiling so we can pay on this debt. How have we gotten into such an overwhelming and complicated problem with our nation’s money? Ironically the same can be said for our individual household debt as well as making the same mistakes and trying to find creative ways to be accountable to our financial responsibilities. Teaching the basics of personal finance n our schools can culturally change our financial practices, leading to a more financially literate public and a stronger, more stable, America. If the younger generations can become more financially savvy, then there is an opportunity for our nation as a whole to become less dependent on debt to survive.
Money is the backbone of America. Without it anarchy would break out and bargaining would fail as people would claim the trade wasn’t fair. Thievery would explode across the globe and some lazy people would have no motivation to work. While most people believe that money is important, the question is whether all money is important. For centuries, the penny has shared a role in American currency and has served a great purpose. In the past, pennies could buy candies, slices of bread, and many other things all on their own. But as time changed, so has the value of the penny. As costs went up, the value of the penny went down. And with its lesser value, some people wonder if it’s even worth it to keep the penny around.
The penny has been in America for centuries, it's a sentimental object for Americans everywhere. However many have debated on whether or not it should be eliminated or continue being made. The penny should be preserved because it is apart of American culture, given to charity, and keeps items cheap.
Jim Kolbe, an Arizona Republican, has tried multiple times to propose, and pass legislation that would not ban, but “discourage” the use of pennies by rounding price’s up or down to help dull down our need of pennies. When we dig deeper into the facts, we find Kolbe might just be trying to get his state more money, as the penny is 97.5% zinc, and
What is wealth to the American people?“They say money is the root of all evil, I see money as the root of all people”- Joey Bada$$. Money does truly run the entire world, and is the reason why most wars start. I believe we are able to blame money on people becoming selfish. Before there was a little piece of paper that meant the world to people there was still a currency in place. People used trade instead of cash, however I still believe it to have been a competitive way of trade, people most likely bragged if they had something better than the rest. However, before there was an actual dollar, I think things were better and people were much more generous. If you helped a neighbor, they would help you, or give you a little present that didn’t necessarily have value. Now it usually always equals money. It has changed so much, even just hearing stories from my parents and what a dollar used to mean to them, versus what it means now. We have currency for structure, without a proper currency I don’t think we’d ever get to where we are now,
Ehrenreich, Barbara. Nickel and Dimed: On (Not) Getting by in America. New York: Metropolitan, 2001. Print.
The document Declaration of Independence signed July 4, the year 1776 and written by one of the country’s ancestors Thomas Jefferson. It was a time in history that declared independence a manuscript written for this occasion which introduces five separate sections that include the introduction which states it is vital to take action on Britain for the colonies.
What makes a good person good? According to WikiHow, "We should learn to define our own morals ourselves. One of the simplest ways to do so is to love others, and treat them as you would like to be treated. Try to think of others before yourself. Even doing small things daily will greatly enrich and improve your life, and the lives of others around you." This quote shows us what we need to do in order to be what society thinks as, “good". In order to be a good person, you have to do good and moral things in your society consistently. However people might think that by doing one good thing once in a while will automatically make you a “good person”, but in reality it doesn’t.
Ehrenreich, Barbara. Nickel and Dimed: On (not) Getting by in America. New York: Metropolitan, 2001. Print.