Click the star to add/remove an item to/from your individual schedule.
You need to be logged in to avail of this functionality,
and to see the links to virtual rooms.
Log in
- Convenors:
-
Valentina Erasmo
(Università di Torino)
Diana Rueda (University of Asia the Pacific)
Tamas Veress (Business Ethics Center, Corvinus Institute for Advanced Studies)
Send message to Convenors
- Chair:
-
Valentina Erasmo
(Università di Torino)
- Format:
- Thematic Panel
- Theme:
- Equity and social inclusion
Short Abstract:
This panel will address the following questions based on the EoF perspective: What new capabilities are central in the on-life era? Does the on-life dimension shed new light on the nature of capabilities, for example, if they are a combination of basic human functionings that are context-independent or if they still need to be evaluated according to cultural, geographical, and social factors?
Long Abstract:
Addressing the young economists of The Economy of Francesco movement, Pope Francis invited them to find the ‘unity of the opposites’: “There is the concrete economy made up of faces, looks, people, of small banks and businesses, and there is the economy that is so large as to seem abstract, of multinationals, states, banks, investment funds. There is the economy of money, of bonuses and very high salaries, alongside an economy of care, of human relations, of salaries that are too low to be able to live well. Where is the meeting point between these opposites? It is in the authentic nature of the economy: being a place of inclusion and cooperation, a continuous generation of value to be created and shared with others. The small needs the big, the concrete needs the abstract, the contract needs the gift, and poverty needs shared wealth.” Among the opposites inhabiting contemporary economic thought, there is the couple online and real life. This is the outcome of the digital revolution. These opposites find unity in the concept of on-life . In a world where everyone is hyperconnected, and digital identities are part of the self-understanding of individuals and groups, it is impossible to trace precise borders between the online and offline (real-life) spheres. In this respect, we should consider the concept of digital divide that refers to societal-level inequalities (real-life sphere) in digital access (online sphere), among other things . Although the blurring boundaries between online and offline spheres, this inequality should be addressed in a very concrete way, for instance, enhancing the access to the Internet and other technological devices. Community centers, public libraries, schools, and universities can absolutely play a role to improve this access to digital resources that is seminal to improve, in turn, human development. It follows that concepts such as inequalities, discrimination, poverty, sociality, and many others are evolving and sometimes acquire new meanings in the on-life dimension.
This panel explores if something similar is happening to the concept of capabilities . Hence, we aim to start with some questions: What new capabilities are central in the on-life era? Does the on-life dimension shed new light on the nature of capabilities, for example, if they are a combination of basic human functionings that are context-independent or if they still need to be evaluated according to cultural, geographical, and social factors? Given the interconnectedness of the on-life era, it is clear that all crises are related to one another. Can the on-life capabilities provide convincing responses to some of those crises? In the past few years, scholars of the Economy of Francesco have focused on the social and ecological crises. Both Pope Francis’s encyclical and St. Francis’ life and teachings are central to the topics of poverty and inequality of human beings, framed in the biosphere crisis .
For the organizers, I emphasize that, me, Valentina Erasmo, will not present any paper because I am only the chair and who is submitting the proposal as the scientific secretary of the EoF Academy, such as the association to which all the convenors belong. The papers will be presented (online) in case of acceptance by Viory Vianeo and Diana Rueda, Diana Rueda (single author work), and Tamas Veress.
Accepted papers:
Paper short abstract:
Freelancing among young professionals had gained momentum in the Philippines due to flexibility and freedom which help create more meaning in one's life. Given such phenomenon, this study focuses in observing whether or not freelance young professionals flourish in their work.
Paper long abstract:
There has been an increasing trend of freelance revenue in the Philippines since 2019. From 2019 to 2020 alone, the Philippines recorded an increase of 208% in freelance revenue—the highest in Asia for such year. This increase is deemed to be derived from the young population of the country (Philippine Institute of Development, n.d.). More so, during the pandemic, several Filipino young professionals had ventured to freelancing leaving their eight-hour job for flexibility and freedom (Tudy, 2020). Flexibility and freedom help create more meaning in one’s life. Thus, work is realized not just an activity to do or earn. It has an intrinsic dimension where participation provides meaning and positively affect well-being. Moreover, it is a path to human flourishing (VanderWeele, 2017). Human flourishing, which stems from the Aristotlean concept of eudaimonia, concerns in the development of virtues as the basis of wellbeing. A number of studies have been conducted in order to measure and observe flourishing and its effects on some communities. Various literature adopted the Flourishing Index (FI) and Secured Flourishing Index (SFI) introduced by Vanderweele (2017). The Fl is composed of two questions each under the five domains of human flourishing. On the other hand, the SFI has the same set of questions and structure as the FI but with the inclusion of financial and material resources which ensures flourishing over a longer period (Weziak-Bialowolska, 2019). FI and SFI “are calculated as the arithmetic average of all five and six domains, respectively, with equal weighting). Domain- specific indexes are “calculated as the arithmetic average of two questions with equal weighting (Weziak-Bialowolska, 2019).” Thus, this study measures the FI and SFI of Filipino Young Professionals. Such will be done through a survey of 400 freelance young professionals who reside within the Philippines. The Well Being Assessment created by the Human Flourishing Program of Harvard University will be used for the survey (VanderWeele, 2017). The study will use Secondary Order Confirmatory Factor Analysis to confirm and validate the results.
Paper short abstract:
The presentation argues that community economy models, by prioritizing access to needs satisfiers of the community over private gains, and by mobilizing ICTs for wellbeing, have important implications for expanding and nurture the capabilities of those in need.
Paper long abstract:
Two contrasting approaches to value creation emerge: materialism, emphasizing profit at the expense of sustainability and human needs, and community economy, which emphasizes social provisioning, resource sharing, non-monetary interactions, participatory decision-making, and sustainable technology use. Community economy models prioritize satisfying the needs of the community over individual profit, leveraging information and communication technologies (ICTs) to enhance wellbeing.
Illustrative case studies, such as the Cooperative for Ethical Financing (CEF) in Croatia and Buurtzorg India (BI), exemplify community economy principles in action. CEF, a non-profit organization, operates as a democratic entity with members collectively owning assets and making decisions. Emphasizing financial sustainability, ecological impact, and social responsibility, CEF directs resources towards projects promoting organic agriculture, renewable energy, and social entrepreneurship. It offers credit for essential needs without allowing non-purpose consumer loans, with interest rates capped at 4%. Through an internal crowd investment platform, members can invest in projects meeting ethical standards, distributing risk transparently while potentially earning higher returns.
In India, BI, in partnership with EduGreen, trains rural women as caregivers to deliver affordable healthcare services. Teams comprising nurses and caregivers organize non-invasive care, empowering rural women and providing accessible healthcare. BI prioritizes patient wellbeing over profit, educating patients for self-care and facilitating communication between patients, families and physicians. By treating patients at home, BI reduces costs significantly compared to hospital-based care. IT systems aid in team coordination and knowledge sharing, while BI works on developing emergency medical protocols to address regulatory gaps. With stable employment, relatively high salaries, and dignity in their work, nurses and caregivers experience low turnover rates and contribute positively to their communities.
These case studies demonstrate the viability and effectiveness of community economy models in addressing societal needs, promoting sustainability, and fostering human wellbeing. By prioritizing community over profit and leveraging technology for social good, such models offer a promising alternative to traditional economic paradigms.
Paper short abstract:
This study aims to understand the financial literacy status of low-income earners and how this could have led to issues related to poverty in the Philippines. It also aim to find out the spending behaviour and the extent of financial discipline.
Paper long abstract:
Studies have shown that poverty deprives many decent opportunities that will enable them to live a quality life. About 26 million Filipinos are living on less than $2/day (Asian Development Bank). They are the ones who do not get quality healthcare, food, and shelter.
Families who are considered to be poor are usually observed to be those who have not availed of education and therefore, are not able to get gainful employment (Hillman & Jenker, 2004). Their vulnerability is further aggravated by the fact that they had to keep on borrowing, because they lack financial resources and financial discipline (Mylenko, 2015). It is unfortunate that, if not addressed, this state of poverty is passed on to the next generation, creating another set of vulnerable people. Their vulnerability affects their participation in proper civic, socio and economic, and spiritual activities.
This study aims to understand the financial literacy status of low-income earners and how this could have led to issues related to poverty. We likewise aim to find out the spending behaviour and the extent of financial discipline of the respondents. To execute these, the researchers will conduct a financial literacy assessment survey based on the Bangko Sentral ng Pilipinas (BSP) Financial Literacy Campaign and a Financial Literacy Campaign to students who graduated from Foundation of Professional Training, Inc. (FPTI). Such foundation offers culinary and hospitality services technical-vocational education to financially challenged female students. Moreover, literature review and observation analysis will also be included to validate the observations and results of the survey. Through these, we hope to observe and find out how the program has helped the respondents achieve financial discipline and how it has helped them improve their financial standing. It is our hope that through this campaign, we will be able to help some people get out of the poverty trap and the debt cycle.
We believe that apart from the safety nets provided by the government, the low-income earners should also find means to help themselves and improve their life. Such is the idea of capabilities approach of Amartya Sen—that is financial freedom helps people to better function and realize their potentials (Crocker, 2009). And we think that we, who form part of the Economy of Francesco, could help by offering our time in conducting financial literacy awareness and workshops.