Finance: A Christian Perspective

This book, perhaps startlingly, is about finance from a Christian point of view, taking its start from the Gospels and moving forward to modern Catholic Social Teaching and today’s opaque money markets, pausing along the way to delve into the origins of finance in the Christian Middle Ages. Not only those with a Christian orientation, but anyone looking for a coherent, moral view of finance will profit from its keen insights. Markets represent free, responsible interaction among human beings, and for this reason their functioning cannot escape close scrutiny in view of moral duty and the common good—precisely the sort of scrutiny this work offers in abundance. As former CEO of financial institutions, Chairman of the French Association of Catholic Economists, member of the French Catholic Academy, seasoned financial practitioner, and scholar of Catholic social teaching, Pierre de Lauzun is uniquely suited to this task. The French edition of this book was awarded the 2015 International Prize of the Centesimus Annus Pro Pontifice Foundation by the Vatican. “Following a fascinating account of secular responses to Catholic thinking regarding emerging challenges of banking and finance, Pierre de Lauzun, a man with comprehensive, high-level practical experience in this complex field, helps us identify how we may most effectively redirect finance toward the common good. A true masterpiece, and indispensable reading.”—MICHEL CAMDESSUS, former IMF chief, former Governor of the Bank of France, member of the Pontifical Council for Justice and Peace “Among the many points Pierre de Lauzun makes in this book on finance in the light of Christian faith, what stands out is the vital importance of the Social Doctrine of the Church (SDC) as a crucial anchor point for our times. For this reason it is critical that the SDC becomes better known, acknowledged, and adopted by people of goodwill. De Lauzun’s book (particularly the rich historical perspective it offers) is perfectly suited to serve this need.”—JEAN-BAPTISTE DE FRANSSU, Chairman of the IOR (Vatican bank) “Pierre de Lauzun’s Finance, a Christian Perspective provides a crucial insider’s analysis of participation in the modern marketplace from the standpoint of the common good. Beginning from the origins of modern finance in medieval Europe, de Lauzun highlights the role to be played by market participants with a Christian understanding, including investors, managers, and financiers. An essential contribution.”—GLADDEN PAPPIN, University of Dallas, deputy editor of American Affairs “Finance and the financial sector are a vital part of modern economies, but are at the same time one of the industries least understood by Christians of all confessions. In this prize-winning book, Pierre de Lauzun offers a much-needed explanation of finance in the context of Christian ethics. I warmly recommend it to all who want to understand the importance of finance, its advantages, and its potential pitfalls.”—SAMUEL GREGG, Research Director, Acton Institute “Pierre de Lauzun’s defence of real markets, as against the distorted version presented by economists, is persuasive, but the author’s primary goal is even more ambitious: he means to defend his own trade—finance—from the prevalent accusation that it is by nature rapacious and structurally antisocial. His case is based on the valid social purposes of finance: to bridge responsibly from today’s economy to that of the future.”—EDWARD HADAS, Research Fellow at Blackfriars Hall, Oxford

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