In the previous post we learned that it is possible to recover the center of a ring
from its category
of left modules (as an
-enriched category). For commutative rings, this justifies the idea that it is sensible to study a ring by studying its modules (since the modules know everything about the ring).
For noncommutative rings, the situation is more interesting. Two rings are said to be Morita equivalent if the categories
are equivalent as
-enriched categories. As it turns out, there exist examples of rings which are non-isomorphic but which are Morita equivalent, so Morita equivalence is a strictly coarser equivalence relation on rings than isomorphism. However, many important properties of a ring are invariant under Morita equivalence, and studying Morita equivalence offers an interesting perspective on rings on general.
Moreover, Morita equivalence can be thought of in the context of a fascinating larger structure, the bicategory of bimodules, which we briefly describe.