Business ethics week 3 | Business & Finance homework help

Please Answer the following three prompts, no word count required just a well written paragraph for each question.

W3F1 – Globalization and the Business System

We see the topic and theme of globalization threaded throughout much of our work on the subject business ethics. In the broader context of government, markets, and international trade, current economies contain elements of traditions, commands, and markets where the balance of those elements can vary significantly. Velasquez (2018) examines two important arguments for free markets: moral rights and utilitarianism. As stated by Velasquez, “Controversies over globalization and free trade are but the latest episodes in a great and centuries-long ethical debate over a single question: Should governments allow businesses to trade freely among themselves without interference, or do governments have the right and the duty to impose restrictions on business activities to protect their citizens?” (p 124).

Discuss your response to this question. Offer supporting evidence for your position.

W3F2 – Views on Free Markets  

Be sure to read:

3.2: Free Markets and Rights: John Locke;

3.3: Free Markets and Utility: Adam Smith;

3.4: Free Trade and Utility: David Ricardo;

3.5: Karl Marx and Justice: A Critique of Free Markets and Free Trade.

Discuss your view on free markets and offer a supporting example.

W3F3 – Intellectual Property

Velasquez (2018) states, ” Debates have also swirled around the proper balance between property systems that emphasize Lockean notions of private ownership and those that emphasize socialist notions of collective ownership. Nowhere has this debate been more contentious than in regard to the new forms of intellectual property that modern technologies – such as genetic engineering and information technologies – have created.” (p 153).

Velasquez (2018) provides us a working definition “Intellectual property is property that consists of a nonphysical object, such as a software program, a song, an idea, an invention, a recipe, a digital image or sound, a genetic code, or any form of information.” (p 153).

Discuss the current or evolving ethical issues business and government are confronting with intellectual property. Offer an example to support your discussion.