Download Book [PDF] Aquinas and the Market: Toward a Humane Economy i

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THE LINK IS IN THE DESCRIPTIONEconomists and theologians usually inhabit different intellectual worlds. Economists investigate theworkings of markets and tend to set ethical questions aside. Theologians, anxious to take up concernsraised by market outcomes, often dismiss economics and lose insights into the influence of marketincentives on individual behavior. Mary L. Hirschfeld, who was a professor of economics for fifteen yearsbefore training as a theologian, seeks to bridge these two fields in this innovative work about economicsand the thought of St. Thomas Aquinas.According to Hirschfeld, an economics rooted in Thomisticthought integrates many of the insights of economists with a larger view of the good life, and gives uscritical 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 theacceptability of usury. Rather, we must begin with an understanding of how economic life serves humanhappiness. The key point is that material wealth is an instrumental good, valuable only to the extent thatit allows people to flourish. Hirschfeld uses that insight to develop an account of a genuinely humaneeconomy in which pragmatic and material concerns matter but the pursuit of wealth for its own sake isnot the ultimate goal.The Thomistic economics that Hirschfeld outlines is thus capable of dealing with ourculture as it is, while still offering direction about how we might make the economy better serve thehuman good.
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