Financial philosophy and practical implications

Abstract

The purpose of this thesis is to examine the utility of the financial sector in the daily lives of citizens with the aim of advancing the economic development of entire societies. Initially, it discusses the role and significance of money in the modern era, along with different approaches to it, as presented by various theories. Subsequently, it addresses the impact of the financial system and its tools on contemporary societies and how beneficial it can be with its rational functioning, without artificial manipulations or errors. Furthermore, it presents a different perspective on the business world, emphasizing that businesses should embrace the new trend towards a more sustainable society, aligning with their economic progress, and involving the collaboration of all stakeholders within an organization. In this way, businesses will play a more active role in the core of society, developing functions for the benefit of the social whole. This not only enhances their economic prosperity but also leaves a positive footprint and impact on the local or global market. On the contrary, it is equally important to mention the opposite side, where it is observed that the sole reason for the existence of a business in our times is profitability and the distribution of reserves to shareholders, claiming that this is the only way it can survive.