“The time is ripe for a paradigm shift in the way the global economy works,” according to Fr. Martin Schlag, Academic Director of the Market, Culture and Ethics Research Centre at the Pontifical University of the Holy Cross in Rome. “In the long run, what changes culture is education… a cultural transformation of values, practices and institutions.”
Drawing from a rich tradition of social and economic discourse going back as far as the “Commercial Revolution” of the thirteenth century, Schlag has helped to spearhead a way of thinking about economic exchange that is extremely old, yet fresh to our modern minds. Contra the mechanistic, “quantitative” models of economics that are so characteristic of our contemporary situation, Schlag applies the fundamental ideas of Catholic Social Teaching in order to envision a more holistic picture of exchange–one that is inseparable from cultural values and ethics. On this view, only moral markets are truly “free”.
Check out the website for the Market’s, Culture and Ethics Research Centre
Please stop to watch another great interview video conducted by Aaron Rowe with Fr. Schlag on these vital matters.