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harry potter - How Important is Money in the Wizarding World?


With all the other economic questions being asked about the wizarding world that Harry Potter lives in, it's gotten me to wonder about this.


While Harry is wealthy, and the Weasleys are apparently not wealthy at all, I can't help but to wonder just how important money is in the wizarding world. If someone can cast as spell and create a structure, or have a tent that's easily moved around, but still has spacious living quarters in it (no tardis jokes, please), how much does a wizard or witch need money?


I know they need it for items that can't be created without skill, like wands, and for some magical ingredients, but it seems like one could easily create food and other necessities of life through transformation spells.


And, related to that, what would be the cost of living in the wizarding world?

I would think the ease of travel from one place to another would keep the cost of living close to the same throughout the wizarding world. But has anyone actually compared the cost of living for wizards and witches with the cost of living for muggles?


I know that's two questions (how important is money and what's the cost of living), but the two seem intertwined. Has JKR said anything about this or has anyone written anything about either one?



Answer



You said "but it seems like one cold easily create food and other necessities of life through transformation spells". In case of food, that is definitely NOT true:



"Your mother can't produce food out of thin air," said Hermione. "no one can. Food is the first of the five Principal Exceptions to Gamp's Law of Elemental Transfigura --" "Oh, speak English, can't you?" Ron said. (DH pg. 292/240)



Later, in Chapter 29, Neville explains how they discovered the passage from the Room of Requirement to The Hogs Head, and Ron remembers the earlier scene:



... Aberforth. He's been providing us with food, because for some reason, that's the one thing the room doesn't really do." "Yeah, well, food's one of the five exceptions to Gamp's Law of Elemental Transfiguration," said Ron to general astonishment.(DH pg. 578/465)





Also, from Gamp's_Law_of_Elemental_Transfiguration Wikia, the following are deduced (but not directly referenced in canon as exemptions)



  • Clothing: Even wizards of great skill — Remus Lupin and Molly Weasley included— cannot seem to conjure up new robes and are instead stuck with old, patched ones, ones that are too short, or ones that are hopelessly out of style. If clothing were not one of the exceptions, Lupin would have long ago conjured a new wardrobe, and Ron would have avoided his dress-robe embarrassment at the Yule Ball.



As far as shelter - I don't see any useful reason for it to not be magically creatable in canon. I think this is more of a case of Rowling being completely woefully ignorant of basic Economics (as evidenced by her non-HP writings) than anything else.


Although, it's possible that you can't transfigure something as big/complicated as a house without some MAJOR transfiguration talent.


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