Genius of Money Post 3- Interview with an Anonymous Donor

I chose to summarize the Anonymous Donor (AD) interview because I respect the fact that this person does so much for the community yet desires no recognition. This is a true sign of philanthropy because the process becomes all about the giving and not about the giver.

We see from the start that this person comes from a wealthier Jewish family that is not new to the business world and non-profits. This family structure helped because the AD was about to soak in information from his father about the business world. Simple conversations at the dinner table and on the phone can go a log way for children that are always ready to soak in any information provided to them. AD explains that philanthropy is not her priority, as she rather focuses on motherhood and farming, but the world is always in need and she goes everything possible to stop any suffering. “Bodhicitta” explains an enlightened mind, which is the reason why AD does what she does. To have a positive life and attitude, AD turns to meditation, prayer, and other practices. Spiritual practices often help people clear up their thoughts in order to tackle the day with a rested mind. It is interesting that AD’s family success was a result of immigration and hardship. They were good at grain trade but were Jews in Russia, so they had to prove themselves worthy enough to make trade in the main lands. They could not own land but found ways to be influential in society at the time through commerce.

GENIUS PART 2 "A Topography of Transactions" - Chapter 1 “Economics and the Presence of Philanthropy”

The main focus of this chapter was the importance of philanthropy. The economy can still function without philanthropy, but without it we start seeing non-profits and other services suffer. Some of these things include education, research, and art. Without philanthropy they would pretty much be headed for extinction. Bloom argues that, in traditional classic economics we cannot find philanthropy and the art/science of giving.
Philanthropy is not only good for the economic cycle but it also supports social capital. Boom argues this point by saying throughout history human kindness has gone a long way. We can find many cases in history that money was not needed to create happiness in our society. Besides money we can always share care, knowledge, imagination, and inspiration. Boom says that our society does not value these things as much as money, so it has been left to philanthropy to make gifting an important aspect of society. It is not always about getting something in return, when you gift, the return is immeasurable. Boom's point is that, through gifting we learn more about life (education, research, and art) that can then lead to economic renewal. “The logic here is one of functional integration rather than cause and effect.”
Social finance explains how money and finance supports human initiative and the evolution of new communities. In the global economy, social finance shows that humans are fully interdependent. An example of this is businesses making charitable distribution of a portion of their profits. This gifting creates a whole economic cycle, which leads to an improved and sustainable future.

The Genius of Money

Chapter 6: An Inventory of Polarities

In Chapter 6 of The Genius of Money, the author displays an artwork by Quentin Metsys of The Money Lender and His Wife. Within the painting there are several symbols of the social and religious realm of the time. It is mentioned that the painting is from the renaissance era, and it perfectly portrays many different social features of its time. In the portrait, the man is seen folding the money and the woman is seen with a religious piece. This reflects the societal view of women’s incapability to control money and finances during this time. The reading then explains the lessons that are meant to be shown throughout the painting. This artwork symbolizes a common Christian man and his wife with a representation of their daily lives. The details in the painting, such as the crucifix window reflection, show both the author’s creativity and reason for the painting.

One vital lesson behind the painting is that each exchange of coin had a story to tell about the “issuer, provenance, and value system.” For the money lender and his wife, money represented judgment. Their devotions, however, fell to the church. The author uses this example to show how times have changed and people now see banks as the new high priesthood. The fact that the woman’s attention is with the man and not her religious book shows the lust for wealth and the material world over the desire for devotion and the holy. The painting seems like a warning that the society is in danger with such values in place. The chapter ends with the explanation of the old man and child in the background. This is a representation of wisdom and acculturation being passed on to the next generation. Overall, this chapter helps us think about our own values and morals as well as how we are the example to our younger generations.

Chapter 14: The Touchstone and the Labyrinth

The main focus of this chapter is the real value of money. It really makes the reader think about what money is really worth when the author compares it to a touchstone and a labyrinth. Money makes the invisible visible because it brings together value with material goods. The touchstone and the labyrinth denote material meaning and purpose and are metaphors just, like money. The touchstone symbolizes the value of money; it is supposed to measure the value and the purity of the money. When money was backed by gold or when money was actually made of things from the earth, this analogy makes more sense, but now it is a lot harder to measure the purity of money. The Labyrinth is supposed to symbolize a person's journey while moving through life.

Bloom talks about meaning and explains it by saying; meaning is taken in as understanding. Then that understanding is turned into action. When talking about money, the “meaning” is actually referring to value. This value is present when people agree upon it, but has no meaning when not talked about. The stones from the labyrinths represent the currency, which then gives meaning to the journey that the path signifies. Bloom then compares this to the history of gold, and how gold came to have such a great value in our society. Gold served as the symbol of power and wealth in Egypt, which carried on to surrounding land as something valuable and meaningful.

In recent years, money is not represented the same as before. It is not a physical exchange anymore because it has really become invisible and speedily. With banks, ATMs, online services, and more, money has no real experiential value such as the touchstone and labyrinth. Money now and in the future will become increasingly “indistinguishable” from the rest of our experiences in the world.