Rethinking Economics Starting from the Commons: Towards an Economics of Francesco (Contributions to Economics)

"This book proposes a new approach to economics, starting from the commons and based on the Economy of Francesco (EoF), a worldwide movement of young people who aim to change the current economic models and working towards a fair, sustainable, and inclusive economic system. EoF was convened by Pope Francis and is inspired by the example of St. Francis of Assisi, featuring Franciscan economic roots and institutions, as well as theories of the social sciences. The authors raise and answer several important questions throughout the volume, such as: What if the economic courses taught in the universities across the globe focused their attention on the topics of the commons rather than on private goods? What if social businesses, rather than being considered as a hybrid form of businesses, became the normal approach, and ethical and green finance ruled over the standard financial sector? Is it possible to move away from the primacy of the consumers to the preeminence of ethical consumers who express their preferences for an inclusive, sustainable, and workers-friendly economic system with their daily choices? Using a unique approach, the book includes the contributions of prominent scholars which are integrated and discussed by young international scholars, providing a fresh analysis with a glance of hope for the future. The book is a must-read for students, scholars, and researchers of economics and related disciplines interested in alternatives to the current economic mainstream in general, and the Economy of Francesco in particular."--Cover page 4 Introduction 6 Acknowledgment 11 Contents 12 Economics and the Commons: History, Tragedies, and Some Exercises 14 1 Introduction 14 2 A Bit of History 16 3 Hardin and His Tragedy 17 4 The Crossing of Game Theory 19 5 The Tragedy of the Commons Described as a Prisoner ́s Dilemma 20 6 Tragedy of the Commons as a Stag Hunt Game 22 7 The Social Contract and Individual Ethics 23 8 The ``We ́ ́ Rationality 24 9 The Role of Civil Society 25 10 Conclusions 26 References 28 Expanding the Notion of the Commons: Is Love the Greatest Commons in Which We Should Thrive? 29 1 Before the Commons: Why Every Person Should Understand the Notion of Autopoiesis and Feel a Deep Sense of Love for Life 29 2 The Commons Revisited 32 2.1 Natural Commons 32 2.2 Urban Commons 34 2.3 Digital Commons 36 3 A Future Based on the Commons: Love as a State of Action 38 References 39 Economics and the Ethics of Care 42 1 Introduction 43 2 Feminist Analysis of Economics and Care 44 2.1 Female, Feminist, Feminine: What ́s the Difference? 44 2.2 Care Work as Work 46 2.3 Care Work Must Be Done by All Genders and Across Sectors 47 3 Care as a Training Ground for Social Virtues 47 4 Overcoming the `Care Penalty ́ 49 5 Conclusion 51 References 51 Economics and the Ethics of Care: A Response 54 1 Introduction 55 2 An Overview of Paradigm Shifts 56 3 Between a Rock and a Soft Place: From Mainstream Theory to a New Perspective 59 4 The Paradigm of Care and Care Work 62 5 Interdisciplinary Approaches and Community-Based Outcomes 65 6 Conclusion 67 References 68 Franciscan Wealth: The Roots of Franciscan Economic Thought 71 References 79 Franciscan Wealth: The Roots of Franciscan Economic Thought-A Comment 81 References 89 The Power of Purposeful Business 90 1 A Shift in Thinking 94 2 Putting It into Practice 96 3 Purpose in the Pandemic 97 4 A Collaborative Effort 98 References 99 `Growing the Pie ́ in a Catholic Social Thought Perspective 100 1 Introduction 100 2 Edmans ́ View in Grow the Pie: How Great Companies Deliver Both Purpose and Profit 101 3 Similarities and Differences Between Edmans and the Catholic Social Thought-Economy of Francesco Economic Approach 104 3.1 Similarities 105 3.2 Differences 107 4 A Reconciling Proposal 109 References 111 Generating Commons Makes Cities Alive 113 1 Introduction 113 2 A Forest on the Seaside: A Commons Everyone Has Access To 114 3 Commons as a Creative Resource 116 3.1 See, Imagine, Engage 118 4 Cities that Learn from Nature 120 5 Flooded Squares in Rotterdam 121 6 Natural Biomass Is the First Commons to Defend 122 7 Conclusions 124 References 125 Preserving Our Commons: Call to Action 126 1 Introduction 126 2 Amazon Rainforest: The Tragedy in Progress in the World ́s Largest Tropical Forest 128 3 California ́s Lack of Water and Deregulation 130 4 Accra, Ghana: Secondhand Clothing Waste Environmental Impact Is Out of Fashion 131 5 Energy as a Common: Europe ́s Search for Energy Independence 133 6 ``Governing the Commons ́ ́ Through the Economy of Francesco 134 References 136 Winning Ideas: Lessons from Free-Market Economics for the Economics of Francesco 138 1 Introduction: Pope Francis on Realities and Ideas 138 2 The Role of Strategy: Tactics from the Free Marketeers 140 2.1 Developing a Compelling Narrative 142 2.2 Making the Weather 143 2.3 Developing a Community of Research 144 2.4 Fostering Talent 147 2.5 Practicing Strategic Patience 149 3 Lessons for an ``Economics of Francesco ́ ́ 151 References 152 Possible Paths to Follow in Francesco ́s Economy: Based on the Analysis of Sabina Alkire and Angus Ritchie and the Experiences ... 154 1 Introduction 154 2 Developing a Community of Research and a Compelling Narrative 155 2.1 Looking for a Method 156 2.2 In Search of a New Narrative 157 2.3 Intersubjectivity as a Response to the Fragmentation of Thought 157 2.4 The We-Rationality 158 3 Fostering Talent 159 3.1 Integral Experiences from Latin America 159 4 Exercising Strategic Patience While Making the Weather in Political and Economic Debates 161 5 Concluding Remarks 164 References 164 Moral Sentiments, Social Choice and the Commons 166 1 Introduction 166 2 Tirole on the Common Good 168 3 Moral Sentiments and Social Choice 170 4 Fratelli Tutti 172 5 Concluding Remarks: An Example 174 References 176 Where Are ``We ́ ́ in the Economy? Some Reflections on the Place of Moral Sentiments and the Commons in Redefining Economics 177 1 Introduction 178 2 Moral Sentiments and Economics 179 3 Moral Sentiments and the Commons from an EoF Perspective: Towards a Redefinition of Economic Agents 182 3.1 Embeddedness, Reflexivity and Personal Identity: Redefining Economic Agents 183 3.2 Moral Sentiments also Include Benevolence and Compassion: Promoting the Commons 185 3.3 Carving a New Way Forward with Moral Sentiments: Social Love and Reflexivity 186 3.4 We as the Commons: Whose Lives Are Given Importance 187 3.5 The Ethics of Time 188 4 Concluding Remarks 188 References 189 The Economy of Francesco and the Age of Sustainable Development 191 1 Economic Ethics of the Ancients 192 2 Economic Ethics of Biblical Judaism and Early Christianity 194 3 Economic Ethics of the British Empiricists 197 4 Economic Ethics of the Church ́s Social Teachings 201 5 Economic Ethics of Social Darwinism 202 6 Economic Ethics of Sustainable Development 204 7 The Economy of Francesco and a New Global Ethics 207 References 208 Gratuitousness 210 1 Introduction 210 2 The Greek Roots of Virtue Ethics 211 3 Pluralism, Biodiversity and Virtue Ethics 212 4 Gratuitousness 213 5 Gratuitousness in the Data 215 5.1 Gratuitousness in People ́s Lives: The Case of Grandparenting 216 5.2 The Case of Grandparenting 217 6 Concluding Remarks 219 References 220 Peace, Faith, and Economy 222 1 Introduction: To Re-animate the Economy 222 2 Globalization and New Challenges 223 3 Faith and Integral Human Development 226 4 Universal Peace and Fraternity 227 5 New Economy and New Man 232 6 Conclusion 234 Peace, Faith, and Economy: A Comment 236 1 Introduction: The Economy of Francesco ́s Approach to Economic and Social Issues-The `See, Judge, Act ́ Method 236 2 See: The Middle East in the Face of Interconnectedness, Power and Vulnerability 239 2.1 Contemporary Expressions of Power: Conflictuality, Technocratic Paradigm and Neoliberal Dogma 239 2.2 New Vulnerabilities 240 3 Judge: Universal Peace and Fraternity: The Adoption of a Human Centered Approach 242 4 Act: Faith and Integral Human Development 244