• Business and Economy


    Questions arise daily about how wealth and goods should be allocated. Given the relative scarcity of society’s resources, deciding how these resources should be distributed is an important moral task. Should everyone receive roughly the same amount? Or should people be rewarded according to how hard they work or how much they contribute to society? To what extent should economic distribution take need into account? For example, with modern technology at their disposal, today’s hospital are able to perform life-prolonging feats of medicine that were undreamed of only a couple of decades ago, but these services are often extraordinarily costly. Who, then, should have access to them? Those who can…

  • Business and Economy


    A bribe is a remuneration for the performance of an act that’s inconsistent with the work contract or the nature of the work one has been hired to perform. The remuneration can be money, gifts, entertainment, or preferential treatment. Business gifts and entertainment of clients and business associates are a familiar part of the business world. Still, both practices can raise conflict-of-interest problems and even border on bribery, but knowing where to draw the line is not always easy. One thing is clear: those who cross that line, wittingly or not, can end up in big trouble. For people in the business world, the rules are not so cut and…

  • Business and Economy


    With unprecedented changes, the very old stories, models, frameworks, and perspectives don’t work very well. Think about how globalisation and technology is changing things, the next generation will have a smaller world than we have it presently. Over the recent decades now, we’ve seen the privatisation and commercialisation of social/public mechanisms like electricity, telecommunication, and water corporations by government. How constantly we think about the issue of sustainability. With this idea, people expect business to be active on social issue, from keeping environment clean to bridging the gap between the poor and rich. In all of these is the impact of pervasiveness of information technology more than how we had…

  • Business and Economy


    The concept of “exchange” is at the core of the concept of markets. Markets are systems of exchange in which people with money or commodities to voluntarily trade these for other items which they prefer to have. Since property is itself a social institution, society will have a stake in ensuring that the terms of exchange are fair and that limits of exchange and property are set, so that some things, such as the labour of children should not be traded at market prices. Extreme political and economic liberty denies that anything other than the free operation of markets themselves is needed to solve this and practically all other political…

  • Business and Economy


    Many salespeople take complying with the law to be the only acceptable standard for their conduct and claim that they have no moral duty to provide buyers with information about the goods they sell, except for that information which the law requires for an enforceable sale. A perspective says that a voluntary exchange occurs “only if” the following conditions are met: Both buyer and seller understand what they are giving up and what they are receiving in return. Neither buyer nor the seller is compelled to enter into the exchange as a result of coercion, severely restricted alternatives, or other constraints on the ability to choose. Both buyer and seller…

  • Business and Economy


    Within business circle, there seems to be much enthusiasm about globalization as it is believed to facilitate economic growth, global welfare, democracy and global peace. This process is subject to many interpretations, which is borne out of the fact that it is quite complex as it involves many features such as, internalization of trade activities, market liberalization and universalization of goods, services, lifestyles, and pattern of consumption, and the likes. The existence of political borders have hindered global connections between people. However, these borders are being eroded now due to the process of liberalization. Indeed, technological advancement and the erosion of political borders have greatly facilitated proliferation of supervisorial interconnections.…


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