Question

Business Ethics---->

1. What is money? How have complex societies developed and used it? Money is not a capitalist invention. If you don’t have a currency, what is used to exchange things of value?

2. What is capitalism (hint: it is not a political system). When did it arise and why? What does it replace? How can it be harmonized with differing political systems—or not.

Answer 1

Answer:

Business Ethics---->

1. Money is a currency that is established as a medium for exchange of good and service among the people at global level. This helps in easy exchange of product and service, as it can be counted and can be given to the product or service provider, as per his terms. Complex societies developed this currency as a mean for need of exchange of goods and services in the societies. They used it as a mean for taking something or selling something and in return they can get this currency. Money is not a capitalist invention; this is the invention of need of people for their exchange of things. If weu don’t have a currency, then we need to exchange products or services in place of currency for our needs. WE may be required to go the past where people used to exchange things, as they were not having currency at that time. In absence of currency, people will be required to exchange products or services with mutual agreements.

2. Capitalism is a defined as the system in which the privatization took place for control of countries trade and commerce and various private modes of operations were started for the profit earning. This is the shift of state control to private control of trade and commerce of the country for profit generations. It arise long back in the history and it arise mainly the profit earning for the country, as country are not able to manage with the help of government processes, then they outsourced to private firms for managing the trade and commerce of the countries. It replaced the government control over the trade and commerce and involved private parties for managing trade and commerce for the nation. This replaced the people interest by private firm profit interest. This can be harmonized with differing political systems, as political system needs to have adequate processes and system that can manage this trade and commerce for the nations. The political system can adapt the common process and system for its management.