Today sees the opening of the opening of the “Oekonomika” Institute in Vienna: a think-tank on applied economics and political philosophy that takes the Aristotelian tradition and Catholic Social Teaching seriously. I’ve mentioned these people over on Modestinus’ blog. Here’s a snip from one of their statements:
In contrast to the contemporary tendency to make the economy an end in itself, the tradition of the Christian West includes the “art of household-management” (along with ethics and politics) in practical philosophy. Economic agents are not merely driven about by blind economic “laws” such as “supply and demand,” but able, through the practice of virtue, to act in accordance with truly human ends in the economic sphere.
Economics has a subordinate role in relation to ethics and politics. It is therefore necessary for a true understanding of the proper measure in economic matters to concern oneself with virtuous action and the goals of political life. For the existence of human institutions ought only to be justified by their supporting the common good and assisting human persons in the quest for a happy life.