What Catholic social thought can teach thinkers of all faiths and backgrounds about equitable economics Inequality is skyrocketing. In a world of vast riches, millions of people live in extreme poverty, barely surviving from day to day. All over the world, the wealthys increasing political power is biasing policy away from the public interest toward the financial interests of the rich. At the same time, many countries are facing financial fragility and diminished well-being. On top of it all, a global economy driven by fossil fuels has proven to be a collective act of self-sabotage with the poor on the front lines. A growing chorus of economists and politicians is demanding a new paradigm to create a global economy for the common good. In Cathonomics, Anthony M. Annett unites insights in economics with those from theology, philosophy, climate science, and psychology, exposing the failures of neoliberalism while offering us a new model rooted in the wisdom of Catholic social teaching and classical ethical traditions. Drawing from the work of Pope Leo XIII, Pope Francis, Thomas Aquinas, and Aristotle, Annett applies these teachings to discuss current economic challenges such as inequality, unemployment and underemployment, climate change, and the roles of business and finance. Cathonomics is an ethical and practical guide to readers of all faiths and backgrounds seeking to create a world economy that is more prosperous, inclusive, and sustainable for all.
Anthony M. Annett is a Gabelli Fellow at Fordham University and a senior adviser at the Sustainable Development Solutions Network. He has a PhD in economics from Columbia University and spent two decades at the International Monetary Fund, where he worked as a speechwriter to the managing director. He is also a member of the College of Fellows of the Dominican School of Philosophy in Theology.
Foreword by Jeffrey D. Sachs Preface Abbreviations 1. The Old Stuff: Where It All Comes From 2. The New Stuff: Modern Catholic Social Teaching 3. Whos Right and Whos Wrong: Catholic Social Teaching versus the Dominant Economic Paradigm 4. The Good, the Bad, and the Ugly: Practically Assessing the Global Economy 5. Who Does What? The Roles of Government, Business, and Labor 6. Inequality: The Root of Social Ills 7. Care for Our Common Home 8. Expanding Our Circles: The Global Dimension Conclusion Bibliography About the Author