Francesco Economy

URL = https:www.francescoeconomy.org

Description

Ladislau Dowbor:

"Pope Francis called on a global meeting in 2020 to address a new economy, symbolically named the Francesco Economy. The proposal is associated with the views of Saint Francis of Assisi. The city of Saint Francis where the meeting was to be held. It is being postponed because of the pandemic. But the discussion of the proposed issues, basically “another economy”, gave rise to a broad movement by portions of different religious and non-religious communities. The movement gained more visibility with the direct participation of personalities like Jeffrey Sachs, Joseph Stiglitz, Amartya Sen, Vandana Shiva, Mohammad Yunus, Kate Raworth, among other internationally prominent figures, including Nobel laureates. The tenet that the economy should serve society and not the other way round is resonating deeply within people. We live in an era of staggering uncertainties and the pursuit of new models. The current system, based on individual profit maximization and deregulated corporate giants, is simply not working.

The Francesco Economy (www.francescoeconomy.org) initiative aims “to make a commitment with the young people, beyond differences of beliefs and nationalities, to change the current economy and give a soul to that of tomorrow so that it is more just, sustainable and with active engagement by those who at present are excluded…Today more than ever, everything is deeply connected and the safeguarding of the environment cannot be divorced from ensuring justice for the poor and finding answers to the structural problems of the global economy. We need to correct models of growth incapable of guaranteeing respect for the environment, openness to life, concern for the family, social equality, the dignity of workers and the rights of future generations. Sadly, few have heard the appeal to acknowledge the gravity of the problems and, even more, to set in place a new economic model, the fruit of a culture of communion based on fraternity and equality.”

The idea is to rethink the role of the economy in society. After all, the economy should serve to improve our lives, rather than have billions struggling to access whatever “trickles down”. It seems there is a growing pressure for change, we must use good sense and reorder the arguments. An economy at the service of the common good should be economically viable, but also socially just and environmentally sustainable. This triple bottom-line defines a new balance and new forms of organization."