Question

Charlie hayes owns his own landscaping business, including all the land on which they grow their plants, and all the equipment. charlies son josh has just graduated from college with an architectural landscaping degree. charlie hopes to retire in a few years and turn the business over to josh, and josh will inherit the business when charlie dies. this is an example of the ______________ in a capitalist system.

Answer 1

I would say this is an example of the succession in the capitalist system whereby in this case a family business encourages the son to study a related field so he can take over from the father when he retires to own and manage the business and usually the one who inherits the business works in it for a time to get familiar with it.