Cathonomics

cover art
 
336 pp., 6.5 x 9.5
Hardcover
ISBN: 9781647121426 (1647121426)


January 2022
Sales Rights: World

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Table of Contents
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Cathonomics
How Catholic Tradition Can Create a More Just Economy
Anthony M. Annett
Foreword by Jeffrey D. Sachs

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 wealthy's 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.


Reviews
"How does Pope Francis see the future of humanity? Here is the rich answer, expansive and well-developed, of a thoughtful economist inspired by Catholic social thought. It will satisfy the historically-minded: Annett starts with Old Testament justice and Aristotle's virtues. It will also satisfy those who today seek answers to how we fail to attend to human and environmental repercussions. I especially value Annett's acknowledgement of both conservative worry over loss of virtue and progressive desire for a wider reign of justice. This embrace provides a framework for deeper dialogue on the themes of Pope Francis in Laudato si' and Fratelli tutti. On top of all that, such clear, enjoyable prose is an exception to economics famously characterized as 'the dismal science!'"—Cardinal Michael Czerny, SJ, Under-Secretary, Migrants & Refugees Section, Dicastery for Promoting Integral Human Development



"Matthew 6:33 says to 'Seek first his kingdom and his righteousness, and all these things will be given to you as well.' In Cathonomics, Anthony Annett shows how this principle of the Gospel is also applicable to economics. I wholeheartedly recommend this book."—Bishop Marcelo Sánchez Sorondo, chancellor of the Pontifical Academy of Sciences and the Pontifical Academy of Social Sciences



"Annett's title captures perfectly his remarkable work here: showing the richness of the entire Catholic social tradition that informs Pope Francis's prophetic words, and combining it with his decades of knowledge and experience of today's global economic challenges. The resulting analysis is a new theoretical paradigm that is practically accessible to economists and policymakers who are searching for a better world."—David Cloutier, associate professor of theology, Catholic University of America



"Reject an economy of exclusion for 'such an economy kills' implores Pope Francis. In response, many claimed he doesn't understand economics or 'good' capitalism. Cathonomics strongly and adeptly dispels any illusions that the economic teaching of Francis is naïve or disconnected from economic realities. A Catholic economist with decades of experience in international economics, Annett offers an accessible critique of the dominant economic worldview and positive case for Catholic social teaching as both economically sound and practically needed. This book is a must read for all inspired by Pope Francis's call to build an economy of solidarity and save our planet."—Meghan Clark, associate professor of theology and religious studies, St. John's University



"Annett deftly reveals the ways in which Catholic social teaching requires profound changes in economic thinking and in the conduct and aims of business. If you are interested in what it would mean to live in a world in which ethics constrained economics rather than the other way around, then Annett's Cathonomics is the book you must read."—Owen Flanagan, James B. Duke Distinguished University Professor of Philosophy, Duke University

Table of Contents
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. Who's Right and Who's 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