The Morality Of The Market System - 897 Words

Mark Cutler Ethics in Organizations ORGL4113 Northeastern State University Dr. E.A Chavez October 29, 2015 Chapter 3 discusses the morality of the market system as a whole. The chapter examines several key components. The chapter discusses how market systems are justified, and explains the strengths and weaknesses of the various systems currently in use. Two concepts are discussed one says that the business system should be planned; the other that it should be a free market system. Further the chapter discusses the various arguments for and against free markets and government regulation as well as the possibility of a hybrid mixed economy system. Introduction to Business Systems begins by discussing Globalization has connected nations together to move goods, services, capital and knowledge freely â€Å"Free Markets/Free Trade†. All goods and services have to have a system that society uses to provide the goods and services. To accomplish the objective of moving goods there must the three devices of types of societies. Tradition based societies are when communal based. Comma nd Economies are based on government decisions and finally market economies are where private companies make all decisions. Major arguments took place on whether economics systems should be based on commands or on markets and what roles government should play in deciding what are best. Free Markets became a big issue which basically says that individuals have the rightShow MoreRelatedThe Moral Limits of Market by Michael Sandel1063 Words   |  5 PagesCan’t Buy; The Moral Limits of Market by Michael Sandel argues the relationship between markets and our morality. His central concern is the influence of money on the sphere of life traditionally governed by nonmarket norms such as rights as a citizen, care for others, and civic duties. 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