Table of Contents
Question 1
A currency constitutes any form of monetary exchange used within a country or economic region. The presence of money must be in actual use or circulation. The most common types of currencies used in the world today are either made of paper, polymer, bank notes or metal coins (Eggers, Macmillan & Adamson, 2013). A new currency is a unique denomination that is newly introduced for use within a country. A government may decide to introduce a new e currency for many reasons such as to control inflation or to manage the circulation among other factors. According to Eggers, Macmillan and Adamson (2013), a new currency reflects real value and can be distributed by Bureau of Engraving and Printing in large volume to serve an economic deficit. Many benefits accrue with the introduction of new currencies. For instance, it promotes the confidence of the people in their government. Therefore, the government uses the concept on new currencies to bolster the confidence of the public and coagulate their corporation during chaos that also forms part of a social economy (Eggers, Macmillan & Adamson, 2013).
Currencies have often helped the social economy by encouraging trust, reputation and relationships both bin action and in words. For instance, both personal and professional brands can be determined by their investment contributions valued in terms of currencies. Besides, the legitimacy of a currency is built on the industrial peers, prospects and customers. As pointed out by Eggers, Macmillan and Adamson (2013), people will spread about the goodness of an economy because they believe in the value of its currencies. In essence, currencies of a high value would indicate that the societies believe whole-heartedly in the social economy of a country and the passion will attract more investors.
Social economy represents a wide range of spectrum comprising civil organizations and networks, nonprofit organizations, foundations and voluntary groups that operate within a market rage. To a broader extent volunteer time also be considered a social currency because it helps to establish a social authority within a community (Eggers, Macmillan & Adamson, 2013). Volunteers acts as social capital by adding value and skills needed to the economy for free. Therefore, their time spent becomes a social currency.
Question 2
Varied public exchange values have been discussed in this publication some of include; Accountability, Risk management, Social cohesion, Social relationships, Cultural identity individual, community well-being, and market stewardship.
- Accountability: Entails an obligation either by an individual or by an organization to accept the liability of his conduct.
- Risk management: This constitutes an attitude by a person to identify possible threats both to an organization of a community and control it in the best way possible.
- Social relationships: This constitutes the way at which one relates to his colleagues through his expected behaviors.
- Cultural identity: the dynamic of varying characters based on ethnicity and gender
- Market stewardship: Involves the need to protect the economy from misappropriation. This is mostly a duty of the government.
In the book The Solution Revolution the author has mentioned varied public-values with the most common being market stewardship. As pointed out by Eggers, Macmillan and Adamson (2013), the government must establish a standardized economic platform in terms of stability and supportive environment. Market stewardship as part of the public value exchange contributes to the delivery of comprehensive services to the society at a fordable cost and time thereby impacting the entire society (Eggers, Macmillan & Adamson, 2013). The need to have a supportive market stewardship is promoted by outright decision by the government influences important decisions that strikes a social contract between economic good and welfare of the society. According to Eggers, Macmillan and Adamson (2013), market stewardship promotes accountability on the part of the government and is almost inevitable because it is created by direct representation of the society by government officials. However, the introduction of market stewardship as a public value has contributed towards achieving a real status of an economy. Some of the most common exchanges that I have seen in action include,; accountability, social relations and cultural diversity. Social relations best represents my personality.
- Eggers, W., Macmillan, P., & Adamson, R. (2013). The Solution Revolution: How Business, Government, and Social Enterprises Are Teaming Up to Solve Societys Toughest Problems (Unabridged edition). HighBridge Audio.