Is money evil?

Money is a part of our culture that can be highly sensitive. For instance, it’s impolite to ask someone how much they make in their job or the size of their retirement savings.

And yes, I know that the biblical reference is that the love of money is the root of all evil, but it seems we’ve decided that money itself is a demonic force.

Here’s the truth:  money, in whatever form, is just a tool. It doesn’t matter if it’s cash in your wallet, or digits in a bank account, or access to others’ capital.

Like any tool, it can be used for good or bad. But it was created with a useful purpose, and is most powerful when used with knowledge and clear intent. If it’s used without the right goal, it can do damage.

I’m so motivated by the rapidly growing number of businesses which understand this principle. I disagree with Milton Friedman who declared that “the social responsibility of business is to increase its profits.” More company leaders are discovering that they can elect to have a higher purpose, something which has inherent social value.

Here’s an example: Greyston Bakery in New York has a mission to create thriving communities through the practice and promotion of Open Hiring™. They happen to make awesome brownies, but their mission is much broader – and has amazing impact on their community. Plus, they’re inspiring a whole new way of doing business.

That’s what it looks like to change the world. And a great example of the Conscious Capitalism movement.

They’re not a charity, and they’re only sustainable if they can make a product off the products they sell. So monetary measures are as crucial as any other business.

They’re just not the end goal.

This article was first published in InnovatioNews.