Chapter 15 - The Transcendentalist and the Immigrant
Two Views of Money in America
In chapter 15, John Bloom gives us a little background about the two different views of money early on in American history. The different views were between Alexander Hamilton and Thomas Jefferson. Hamilton's vision of an economic direction for the future ruled over Jefferson's view. As a result, "economic trade required a monetary system as a tool of accounting to accommodate intra- and inter-national exchange of goods and currencies."
From Hamilton's policy, came two perspectives on money in America that speaks more to the direct human experience - Ralph Waldo Emerson and Eva Hoffman. Emerson, who was an American transcendentalist believed that money was necessary; however, he questioned who had the right to own it. Emerson believed that each individual would know if he was worthy enough to take on the social responsibility to own money and use it to benefit the society - create jobs. On the other hand, Eva Hoffman a Polish immigrant, believed that money had the power to rule individuals. Hoffman states that an individual's "desire is connected to the worldly and material, rather than the spiritual." Hoffman believes that many individuals have allowed money to rule their lives and determine their happiness, but if individuals have faith in a higher being then they will be able to overcome the temptation of money and materials. Both Emerson and Hoffman asks us to explore our relationship with money because they believe that it is important to recognize the power that money has over us and to not succumb to it.
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