Title: The Three Dimensional Economy and the Common Good Model An Alternative Approach to Mainstream Economic Theory
Abstract: Purpose: The aim of this paper is to present and support the idea that the anthropology and value order of Aristotelian and Thomistic virtue ethics provide the necessary prerequisites for furthering a sustainable and human-centred economic order. On this basis a macro- and micro level economic model called “The Three Dimensional Economy” is worked out that is in close relationship with Alford – Naughton’s [2001] Common Good Model, since the latter model is focused on the organizational level. Together these two models offer an alternative to current mainstream economic models. Approach: The paper describes the characteristics of virtue ethics from humanistic and economic points of view and proceeds from the hypothesis that “different human value structures will involve different economic orders”. In the course of the exposition, the paper makes comparisons between issues seen from the point of view of mainstream economics and from that of virtue ethics, with the latter offered as an alternative paradigm to the mainstream one. The paper first introduces anthropological and then economic phenomena, illustrating that the economic order is built on a human base. Findings: On the basis of the reasoning presented here, and according to the findings of a substantial body of academic literature, we come to the conclusion that Aristotelianism and Thomism can offer an anthropology that fits into the requirements of a sustainable economic and worldly order. A second finding of the paper is that an anthropology and an economic order consistent with the virtue ethics fulfils the requirements of sustainability considerably better than those arising from the mainstream paradigm.
Publication Year: 2013
Publication Date: 2013-01-01
Language: en
Type: article
Access and Citation
AI Researcher Chatbot
Get quick answers to your questions about the article from our AI researcher chatbot