There has been much recent theological and political attention given to the impact a gift economy might have on a market economy. Pope Benedict XVI, in his latest encyclical, has argued that “in commercial relationships the principle of gratuitousness and the logic of gift as an expression of fraternity can and must find their place within normal economic activity”. The new EU President, Herman Van Rompuy, has recently given a speech in which he advocated for a gift economy for Europe. Read more…
11 JulPope Benedict XVI on the Economic Crisis and the Logic of the Gift
There are a seemingly endless amount of accounts of who or what is to blame for the current economic crisis. Is it the US government for allowing the collapse of Lehman Bros? Or was it the rating agencies who rated high-risk packages of sub-prime mortgages as if they were a rock solid investment? Or is it perhaps the very structure of the corporation that encourages short-term profits over long-term sustainability?