Describing actions, decisions, or systems primarily motivated or steered by financial considerations, profit, or the availability of money. It indicates a prioritization of economic gains or the manipulation of currency and financial resources as the central force. This often implies a focus on quantifiable outcomes and the influence of economic factors on policy, behavior, and market trends, sometimes at the expense of other values or goals.
Monetary-driven meaning with examples
- The company's shift to outsourcing was a monetary-driven decision, aiming to reduce labor costs and increase profit margins. While it improved the balance sheet, it negatively impacted local employment and quality control. The long-term consequences, including reputational damage, were less of a consideration in the initial cost analysis that decided the policy.
- The government's introduction of tax incentives for electric vehicles was a monetary-driven policy, designed to stimulate consumer demand and boost sales within the automotive sector, leading to an increase in economic growth. However, critics suggest that the initiative does not take into account the whole lifecycle of the goods, impacting environmental sustainability.
- The housing market crash of 2008 was largely a result of monetary-driven practices within the financial industry, particularly the use of subprime mortgages and complex financial instruments. Banks focused on short-term profits, ignoring the potential risks of widespread defaults, setting the conditions for economic crises and global instability.
- Healthcare, in certain systems, is becoming increasingly monetary-driven with pressures on doctors to lower the cost of patient care. While potentially improving efficiency, this focus can inadvertently result in the prioritization of profitable treatments or procedures over the comprehensive care for patient wellbeing and holistic recovery.