Gabrieli, Tommaso;
(2022)
The (Implicit) Microeconomic Foundations of The Economy of Francesco.
Rivista Internazionale di Scienze Sociali
, 2021
(4)
10.26350/000518_000083.
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Abstract
In this paper, I analyse the microeconomic foundations of the economic judgements expressed in the encyclical letters of Pope Francis. I argue that these judgements are based on the implicit assumption that 1) human preferences are not those of the selfish Homo economicus and 2) market outcomes are neither equitable nor efficient. I discuss how both 1) and 2) are alternative foundations of the standard neoclassical paradigm, and I offer a review across economic fields of the most important contributions that explicitly put forward these microeconomic foundations. The fact that 1)is a criticism of individual assumptions and 2) is a criticism of an aggregate outcome poseschallenges and opportunities: a growing body of recent economic research has offered importantcontributions on such links; therefore, I show that modern economic research can offer a comprehensive microeconomic foundation of The Economy of Francesco.
| Type: | Article |
|---|---|
| Title: | The (Implicit) Microeconomic Foundations of The Economy of Francesco |
| Open access status: | An open access version is available from UCL Discovery |
| DOI: | 10.26350/000518_000083 |
| Publisher version: | https://riss.vitaepensiero.it/scheda-articolo_digi... |
| Language: | English |
| Additional information: | This version is the author accepted manuscript. For information on re-use, please refer to the publisher's terms and conditions. |
| Keywords: | Altruism, Interdependent Utility, Inequality, Catholic Social Doctrine. |
| UCL classification: | UCL > Provost and Vice Provost Offices > UCL BEAMS > Faculty of the Built Environment UCL > Provost and Vice Provost Offices > UCL BEAMS > Faculty of the Built Environment > The Bartlett School of Planning UCL > Provost and Vice Provost Offices > UCL BEAMS UCL |
| URI: | https://discovery.ucl.ac.uk/id/eprint/10148886 |
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