Faith & Prosperity Nexus Blog
In 20 Propositions for the Reform of Capitalism, Assumption Sister Cecile Renouard (a friend of mine) and Jesuit Brother Gaël Giraud put together a book that considers some tough questions that the current economic crisis brings up. After years of research, they came up with 20 actionable propositions for companies and society to ponder in light of the question they set out to answer: “Can we reform capitalism in such a way as to make it serve sustainable social development?” The book is stimulating and at times controversial. You might not agree with every proposition they come up with – but reading it will leave you inspired and better informed. 1. Make the social function of the company into a strategic priority: to encourage and to restrict 2. In favour of an independent monitoring, financial and extra-financial, of companies 3. Integrate environmental, social and governance elements into financial analysis and investment 4. Review wages in order to re-bestow companies with meaning 5. Remunerate financial operators according to their just value 6. Train analysts and financial operators 7. Improve securitisation in order to repair the damage of the crisis 8. Transform credit derivatives into trustworthy shares 9. Restore the primary function… Read more
Sometimes we can learn much about ourselves by finding out how others see us. In this op-ed, the Australian Cardinal George Pell discusses how some Chinese sociologists interpret the rise of the West. He writes: “In 2002 a member of the Chinese Academy of Social Sciences described their attempts to account for the pre-eminence of the West. Originally they thought the main reason was more powerful guns. Then it was Western political systems, followed by the Western economy. Their final conclusion, however, was this: ‘In the past 20 years, we have realized that the heart of your culture is your religion: Christianity… The Christian moral foundation of social and cultural life was what made possible the emergence of capitalism and then the transition to democratic politics. We don’t have any doubt about this.’” Read the rest of the op-ed here The Shanghai University published a study in 2007 concluding that there are about 300 million believers in China. that is up from the official previous estimate of 100 million.