Cathonomics

Inequality is skyrocketing. In this world of vast riches, millions of people live in extreme poverty, barely surviving from day to day. All over the world, the wealthy's increasing political power is biasing policy away from the public interest and toward the financial interests of the rich. At the same time, many countries are facing financial fragility and diminished well-being. On top of it all, the global economy, driven by fossil fuels, has proven to be a collective act of self-sabotage with the poor on the front lines. In a new foreword to his book, Anthony M. Annett examines the Biden administration's economic policies and discusses reactions to Cathonomics. A growing chorus of economists and politicians is demanding a new paradigm to create a global economy that seeks the common good. In Cathonomics, Annett unites insights in economics with those from theology, philosophy, climate science, and psychology, exposing the failures of neoliberalism while offering us a new model rooted in the wisdom of Catholic social teaching and classical ethical traditions. Drawing from the work of Pope Leo XIII, Pope Francis, Thomas Aquinas, and Aristotle, Annett applies these teachings to discuss current economic challenges, such as inequality, unemployment and underemployment, climate change, and the roles of business and finance. Cathonomics is an ethical and practical guide for readers of all faiths and backgrounds seeking to create a world economy that is more prosperous, inclusive, and sustainable for all.