The positive effects of money are that it is a convenient medium of exchange for people who need things; helps people be more independent; and binds people more to others socially. The negative effects are that it influences our decisions to do what is most practical and calculated as opposed to what is most humane and virtuous. “As money becomes the standard by which the value of all objects and relations is quantified, life is emptied of emotional connections, personal loyalties, and the enchantment of traditions, and replaced with a calculating indifference” (Applerouth and Edles, 251). In my mind, this echoes more on Weber’s theory of rationalization. But if we apply it to Marx, I think unregulated capitalism helps the upper class make calculated decisions based on earning greater profits, alienating the lower class emotionally and socially. Ironically this decreases individuality for the lower class since they cannot really afford to pay for anything, much less have the energy to interact socially. For this reason, Marx would probably argue that Simmel’s positive effects of money don’t apply to the proletariat.
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