It can be immensely useful, but you're right about it being abused too.
In Amestris, there are laws in place to prevent people from going overboard. For example, it's illegal to transmute gold because it would screw up the economy. There are also laws against human transmutation which is considered taboo by larger society.
Though in the case of human transmutation, the resulting rebound that the alchemist would experience would likely kill them anyway.
[Though that obviously doesn't stop everyone from trying...]
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In Amestris, there are laws in place to prevent people from going overboard. For example, it's illegal to transmute gold because it would screw up the economy. There are also laws against human transmutation which is considered taboo by larger society.
Though in the case of human transmutation, the resulting rebound that the alchemist would experience would likely kill them anyway.
[Though that obviously doesn't stop everyone from trying...]