Wednesday, November 30, 2016

Dinner, Current Affairs and Questions

I was discussing politics, issues about the economy, human behaviour and psychology with kiddos over dinner one night.

The 5-year-old knew about the US politics and Donald Trump. This was before Trump was elected. She asked if presidents are always men and can there be female presidents. Her question prompted more discussion on equality, sexism and the glass ceiling.

The 12-year-old was curious why small producers would want to sell to the supermarkets if they are being squeezed for profits, why not barter trade instead? I went on to explain the challenges faced by small businesses and told them about the mom-and-pop shops that I used to frequent and have fond memories of in the 1980s but had since disappeared. The pros and cons of having hypermarts, from a business and consumer point-of-view.

My 10-year-old also fired tons of questions. A particular one that struck me most was about business ethics. If A agreed to do business with B (say to sell him something) and C came along and offered a higher price, what would stop A from going back on his word with B? Why wouldn't A just sell to C who offered more? What could B do to protect himself? His questions led me to explain more about business ethics, business law especially in the areas of contracts and civil courts, and the challenges of doing businesses across borders.

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