An enterprise for the common good
A summary of the main features of the debate on new forms of economy and business
Identifying mistakes as a means to improve and setting wider goals for business other than simply utility (and profit) are topics that define a large part of the current debate on the purposes of economic activity. This is a discussion that often leads to constructive reasoning, but which needs periodic fine-tuning to prevent it getting lost amid digressions and misunderstandings. And this is the aim of Elena Beccalli’s contribution, which recently appeared in the magazine Nuova Rivista di Teologia Morale. Entitled “Oeconomicae et pecuniariae quaestiones” e “The economy of Francesco”: nuove prospettive di riflessione etica e di impegno culturale in ambito economico-finanziario [translation below], this useful summary of the topic takes as its starting point the unavoidable ethical dimension in economics and finance when viewed as human activities. Her intervention focuses firstly on the main errors which, in Beccalli’s view, are induced by “the utilitarian economic model that for decades has dominated economic theory and, consequently, operational practice”. Her research, therefore, makes the case for “the positive value of economic biodiversity and analyses the potential of social enterprise models in their various possible forms”. Finally, Beccalli explores the new role of finance “at the intersection with sustainability and in its positive incarnations such as microcredit and community banks”. The foundations for her reasoning are various ideas proposed in the Vatican document Oeconomicae et pecuniariae quaestiones and by the Economy of Francesco initiative.
Elena Beccalli’s work follows a simple structure: after an introduction that serves to frame the topic, she first retraces the features of the traditional economic paradigm before reimagining the concept of business according to criteria that differ from those usually applied (in a section that also touches on welfare and social enterprises); finally, she turns her attention to the relations between finance and the new economy.
In one of the most significant passages, Beccalli writes: “One cannot sacrifice one person’s good to improve the good of someone else or, in other words, an individual’s good cannot be enjoyed if it is not also enjoyed by others (each person’s interest is achieved together with that of others – that is, neither in opposition to nor regardless of others’ interest)”.
Oeconomicae et pecuniariae quaestiones e The economy of Francesco: nuove prospettive di riflessione etica e di impegno culturale in ambito economico-finanziario (“Oeconomicae et pecuniariae quaestiones” and “The Economy of Francesco”: New Perspectives of Ethical Reflection and Cultural Commitment in Economics and Finance)
Elena Beccalli
Nuova Rivista di Teologia Morale, 2024 n. 1
A summary of the main features of the debate on new forms of economy and business
Identifying mistakes as a means to improve and setting wider goals for business other than simply utility (and profit) are topics that define a large part of the current debate on the purposes of economic activity. This is a discussion that often leads to constructive reasoning, but which needs periodic fine-tuning to prevent it getting lost amid digressions and misunderstandings. And this is the aim of Elena Beccalli’s contribution, which recently appeared in the magazine Nuova Rivista di Teologia Morale. Entitled “Oeconomicae et pecuniariae quaestiones” e “The economy of Francesco”: nuove prospettive di riflessione etica e di impegno culturale in ambito economico-finanziario [translation below], this useful summary of the topic takes as its starting point the unavoidable ethical dimension in economics and finance when viewed as human activities. Her intervention focuses firstly on the main errors which, in Beccalli’s view, are induced by “the utilitarian economic model that for decades has dominated economic theory and, consequently, operational practice”. Her research, therefore, makes the case for “the positive value of economic biodiversity and analyses the potential of social enterprise models in their various possible forms”. Finally, Beccalli explores the new role of finance “at the intersection with sustainability and in its positive incarnations such as microcredit and community banks”. The foundations for her reasoning are various ideas proposed in the Vatican document Oeconomicae et pecuniariae quaestiones and by the Economy of Francesco initiative.
Elena Beccalli’s work follows a simple structure: after an introduction that serves to frame the topic, she first retraces the features of the traditional economic paradigm before reimagining the concept of business according to criteria that differ from those usually applied (in a section that also touches on welfare and social enterprises); finally, she turns her attention to the relations between finance and the new economy.
In one of the most significant passages, Beccalli writes: “One cannot sacrifice one person’s good to improve the good of someone else or, in other words, an individual’s good cannot be enjoyed if it is not also enjoyed by others (each person’s interest is achieved together with that of others – that is, neither in opposition to nor regardless of others’ interest)”.
Oeconomicae et pecuniariae quaestiones e The economy of Francesco: nuove prospettive di riflessione etica e di impegno culturale in ambito economico-finanziario (“Oeconomicae et pecuniariae quaestiones” and “The Economy of Francesco”: New Perspectives of Ethical Reflection and Cultural Commitment in Economics and Finance)
Elena Beccalli
Nuova Rivista di Teologia Morale, 2024 n. 1