Here you will find a small collection of approaches for the new economic thinking of the last years to build a Economy of Francesco.
Economy for the Common Good is a social movement advocating for an alternative economic model. It calls for working towards the common good and cooperation as value above profit-orientation and competition which leads to greed and uncontrolled growth. The common good balance sheet shows the extent to which a company abides by values like human dignity, solidarity and economic sustainability,
The Social Solidarity Economy is an alternative to capitalism and other authoritarian, state- dominated economic systems. In SSE ordinary people play an active role in shaping all of the dimensions of human life: economic, social, cultural, political, and environmental. SSE exists in all sectors of the economy production, finance, distribution, exchange, consumption and governance. It also aims to transform the social and economic system that includes public, private and third sectors. SSE is not only about the poor, but strives to overcome inequalities, which includes all classes of society. SSE has the ability to take the best practices that exist in our present system (such as efficiency, use of technology and knowledge) and transform them to serve the welfare of the community based on different values and goals.
By treating the economy as a subsystem of Earth's larger ecosystem, and by emphasizing the preservation of natural capital, the field of ecological economics is differentiated from environmental economics, which is the mainstream economic analysis of the environment.
"Ecological economics exists because a hundred years of disciplinary specialization in scientific inquiry has left us unable to understand or to manage the interactions between the human and environmental components of our world. While none would dispute the insights that disciplinary specialization has brought, many now recognize that it has also turned out to be our Achilles heel. In an interconnected evolving world, reductionist science has pushed out the envelope of knowledge in many different directions, but it has left us bereft of ideas as to how to formulate and solve problems that stem from the interactions between humans and the natural world. How is human behavior connected to changes in hydrological, nutrient or carbon cycles? What are the feedbacks between the social and natural systems, and how do these influence the services we get from ecosystems? Ecological economics as a field attempts to answer questions such as these." (Source: The International Society for Ecological Economics)
In calling to mind the figure of Saint Francis of Assisi, we come to realize that a healthy relationship with creation is one dimension of overall personal conversion, which entails the recognition of our errors, sins, faults and failures, and leads to heartfelt repentance and desire to change (Laudato Si 218").
Planetary health has been defined as “the health of human civilization and the state of the natural systems on which it depends”.
The Planetary Health Alliance (PHA) is a consortium of universities, NGOs and other partners with a shared mission—supporting the growth of a rigorous, policy-focused, transdisciplinary field of applied research aimed at understanding and addressing the human health implications of accelerating anthropogenic change in the structure and function of Earth’s natural systems.
H. Frumkin, S. Myers. Planetary Health: Protecting Nature to Protect Ourselves (536 pages, August 2020)
W. Evision, S. Bickersteth. A New Economics for Planetary Health. In: Planetary Health: Protecting Nature to Protect Ourselves (536 pages, August 2020)
Integrative business ethics is a theory of how economic action can be integrated into a general ethical conception of human action.
Integrative Business Ethics was developed by Peter Ulrich, who was Director at the Institute of Business Ethics at the University of St. Gallen from 1989 to 2009. Instead of an increasingly dominant economic rationale in modern times, he calls for a justification for economic activity that is primarily oriented towards the usefulness of life.
As tasks of the Integrative Business Ethics Ulrich mentions
The critical approach should show that normativity is "not the "flip side" of economic rationality, but its foundation". (IWE 128) It is important to "oppose economistic foreshortening and circular reasoning" that arises from the fact that purely economic concepts of rationality represent a break in the reflection on their inner rationality. A well understood economic rationality thus becomes a "declared departure from economism within economic theory by philosophical means.
Founded in the wake of the financial crisis in 2009, the Institute for New Economic Thinking (INET) is a nonpartisan, nonprofit organization devoted to developing and sharing the ideas that can repair our broken economy and create a more equal, prosperous, and just society. We need a new vision of the economy that aims to serve society. Our approach is guided by a set of key principles:
First published in 1973, Small Is Beautiful brought Schumacher's critiques of mainstream economics to a wider audience during the 1973 energy crisis and the popularisation of the concept of globalization.[In 1995 The Times Literary Supplement ranked Small Is Beautiful among the 100 most influential books published since World War II.A further edition with commentaries was published in 1999. In 1971, Schumacher converted to the Catholic faith as an atheist who had focused on Buddhism. About his relationship to the Catholic Church before his conversion he once said: "It was a long standing illicit relationship.
He developed an interest in Buddhism, but beginning in the late-1950s, Catholicism heavily influenced his thinking. He noted the similarities between his own economic views and the teaching of papal encyclicals on socio-economic issues, from Leo XIII's "Rerum novarum" to Pope John XXIII's Mater et magistra, as well as with the distributism supported by the Catholic thinkers G. K. Chesterton, Hilaire Belloc, and Vincent McNabb. Philosophically, he absorbed much of Thomism, which provided an objective system in contrast to what he saw as the self-centered subjectivism and relativism of modern philosophy and society.He also was greatly interested in the tradition of Christian mysticism and read deeply such writers as St. Teresa of Avila and Thomas Merton. These were all interests that he shared with his friend, the Catholic writer Christopher Derrick.
Tomáš Sedláček: Economics of Good and Evil. The Quest for Economic Meaning from Gilgamesh to Wall Street. Vorwort von Václav Havel, Oxford University Press, Oxford / New York 2011
Applied to economic life, the Mephisto principle means that the most false and harmful basic assumptions or axioms possible must be introduced, but which at first glance appear plausible, good and reasonable. These 7 axioms are: 1. insatiability 2. compound interest is good, right and important 3. property in any amount is good, right and important 4. companies should maximize their profits 5. consumers maximize rationally their self-interest 6. competition and competition are good 7. the invisible hand of the market transfers the selfish behavior of market participants into the common good.
After its explanation, 7 chapters follow on the harmful effects of these axioms. In the following the author drafts a counter model of humane economy and describes ways to its realization. Behind the economic misdevelopment the author sees the "fight for the elimination of Christianity": Today's economic sciences are in his estimation in many areas a frontal attack on Christianity. The key sentence from Christoph Lütges "Wirtschaftsethik" serves him as proof of the unspirit of economic science:
"One can understand self-interest - within the appropriate framework - as a "modern form of charity" [...]. Thus the traditional opposition between good, altruistic behavior and bad egoism is no longer valid.
Altruism and charity, two central pillars of Christianity, according to Kreiß, would thereby be abolished.
Christian Kreiß is a German professor of economics at Aalen University. His focus is on finance and economic policy. In his non-fiction books he criticizes the premises of neoliberal economic theory and warns of its socio-political consequences.