Per una finanza amica della persona: sviluppo locale e globale

Translated title of the contribution: [Autom. eng. transl.] For personal finance: local and global development

Research output: Chapter in Book/Report/Conference proceedingChapter

Abstract

[Autom. eng. transl.] Since the effects of the great global economic crisis that erupted at the end of 2008 are far from exhausted, it is inevitable that the criticisms, and the requests for sanctions and new rules, which are put forward by various parties, point to each other in a particular way on financial operators: they were at the center of the episodes (subprime mortgage crisis, failure of Lehman Brothers, ...) that broke the front of the orderly functioning of the markets. In the contribution of Simona Beretta and Lorenzo Caprio one wonders how finance can once again become a factor of authentic development. The failures of finance are in fact an aspect of a wider ethical crisis, which concerns the economy as a whole. In the light of the encyclical, according to which "the economy needs ethics for its proper functioning; not of any ethics, but of an ethics that is friendly to the person "(CV, 45), the essay reflects in depth on the specific responsibilities of finance in the current crisis and on the measures to be taken for it to return to being at the service of development, both local (with particular attention to the Italian situation) and global. The research emphasizes in particular the "subjectivity" of the ethical resources on which financial markets need to leverage, overcoming the illusion that it is enough to rely on impersonal "objective" mechanisms.
Translated title of the contribution[Autom. eng. transl.] For personal finance: local and global development
Original languageItalian
Title of host publicationRipensare lo sviluppo: sfide e prospettive dalla Caritas in veritate
Pages167-188
Number of pages22
Publication statusPublished - 2011

Keywords

  • development
  • finance
  • finanza
  • sviluppo

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