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Aquinas and the Market - Toward a Humane Economy (Hardcover)
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Aquinas and the Market - Toward a Humane Economy (Hardcover)
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Economists and theologians usually inhabit different intellectual
worlds. Economists investigate the workings of markets and tend to
set ethical questions aside. Theologians, anxious to take up
concerns raised by market outcomes, often dismiss economics and
lose insights into the influence of market incentives on individual
behavior. Mary L. Hirschfeld, who was a professor of economics for
fifteen years before training as a theologian, seeks to bridge
these two fields in this innovative work about economics and the
thought of St. Thomas Aquinas. According to Hirschfeld, an
economics rooted in Thomistic thought integrates many of the
insights of economists with a larger view of the good life, and
gives us critical purchase on the ethical shortcomings of modern
capitalism. In a Thomistic approach, she writes, ethics and
economics cannot be reconciled if we begin with narrow questions
about fair wages or the acceptability of usury. Rather, we must
begin with an understanding of how economic life serves human
happiness. The key point is that material wealth is an instrumental
good, valuable only to the extent that it allows people to
flourish. Hirschfeld uses that insight to develop an account of a
genuinely humane economy in which pragmatic and material concerns
matter but the pursuit of wealth for its own sake is not the
ultimate goal. The Thomistic economics that Hirschfeld outlines is
thus capable of dealing with our culture as it is, while still
offering direction about how we might make the economy better serve
the human good.
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