Economic JusticeRogate R. Mshana

© R. Mshana, WCC- P3May 2009

1. Clarity

2. Critique

3. Alter-natives

Economic JusticeEconomic

Globalization

Trade

Inequality / UnfairEnvironmental destruction

Ethically wrong

FairRespects nature

EquitableRegulated

Financedebt bondage / speculation

Financial Architecture

VolatilityDestroys economies

EquitableFinancial Architecture

Regulation

InequalitiesExclusion

Environmental des-truction

People and Lifecentered Economy

ParticipatorySustainable / Equitable

Neo-LiberalEconomic Paradigm

© R. Mshana, WCC- P3May 2009Trade FinanceNeo -Liberalism

Economic Justice Foci - Neo-Liberal Economic Paradigm

Economic Globalization

InequalitiesExclusion

Environmental des-truction

People and Lifecentered Economy

ParticipatorySustainable / Equitable

Neo-LiberalEconomic Paradigm1. Clarity

2. Critique

3. Alter-natives

© R. Mshana, WCC- P3May 2009

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Against the Neo-liberal economic paradigm: Increasing Inequality -

The Champagne Glass Economy

Top 20 %

Next 20 %

Bottom 60 %

83 % of the world’s wealth

11 % of the world’s wealth

6 % of the world’s wealth

Against the Neo-liberal economic paradigm:

• Because of the current unsustainable neo-liberal economic paradigm, Life is under threat.

• There is increasing inequality, poverty and ecological destruction.

• This paradigm must be changed.

Economic Globalization

Neo-LiberalEconomic Paradigm1. Clarity

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HomeNeo-liberal

© R. Mshana, WCC- P3May 2009

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InequalitiesExclusion

Environmental des-truction

2. Critique

Neo-LiberalEconomic Paradigm

The Earth is Mutilated

• exposes the unsustainable nature of energy-intensive and consumerist lifestyles in the North and the dilemma of replicating these lifestyles in the South in the name of development. The global average ecological footprint – an approximate measurement of human impacts on the environment calculated by estimating the land and marine area required to sustain a population – is presently at 2.2 hectares, which is already 20 percent more than the Earth’s bio-capacity of 1.8 hectares. Bio-capacity refers to the capacity of a given biologically productive area to generate an on-going supply of renewable resources and to absorb its spillover wastes.

Eco-justice

• Churches and congregations should care for the web of life and the rich bio-diversity of creation.

People and Lifecentered Economy

ParticipatorySustainable / Equitable

Neo-LiberalEconomic Paradigm

3. Alternatives

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Economic Justice Foci - Trade

Economic Globalization

Trade

Inequality / UnfairEnvironmental destruction

Ethically wrong

airRespects nature

EquitableRegulated

1. Clarity

2. Critique

3. Alter-natives

© R. Mshana, WCC- P3May, 2009

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Economic Globalization

Trade1. Clarity

© R. Mshana, WCC- P3May, 2009

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Trade

Trade

Inequality / UnfairEnvironmental destruction

Ethically wrong

2. Critique

© R. Mshana, WCC- P3January, 2008

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Trade

Specifically:• Trade must be transformed from

“Free” to “Just” for all people and also sustain our mother earth, work for food sovereignty and transform trade rules.

Trade

JustRespects nature

EquitableRegulated

3. Just Trade

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Trade

An Economy of Sharing:

• Through Justice, an AGAPE economy of sharing is needed where competition and greed is replaced by cooperation and love (Economy of Communion, Micro financing etc. social entr.)

Economic Justice Foci - Finance

Economic Globalization

Financedebt bondage / speculation

Financial Architecture

VolatilityDestroys economies

EquitableFinancial Architecture

Regulation

1. Clarity

2. Critique

3. Alter-natives

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Economic Globalization

Financedebt bondage / speculation

Financial Architecture1. Clarity

© R. Mshana, WCC- P3January, 2008

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Source : Wikipidia

Economic Globalization

VolatilityDestroys economies

2. Critique

© R. Mshana, WCC- P3May, 2009

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Just Finance

– support alternative financing at local levels,

– promote ethical codes of investments.

The need for a new International Financial Architecture under the

auspices of the UN

• The AGAPE states:• “No international financial institution…is able or

willing to control the USD 1.9 trillion worth of currencies that are traded everyday. Financial speculation dominates trade in goods and services, diverting resources from long-term productive investments and areas of greatest need. Financial markets are also increasingly unstable, with speculative bubbles and financial crises.” A New System is needed.

Economic Globalization

EquitableFinancial Architecture

Regulation

3. Just Finance

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Let Justice roll down like waters and

righteousness like an overflowing stream.

- Amos 5:24