Francis-canomics
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Francis-canomics

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Presentation at Lourdes College October 6.

Presentation at Lourdes College October 6.

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Francis-canomics Francis-canomics Presentation Transcript

  • Rebuilding from the Recession in Your Heart FRANCIS-CANOMICS
  • “Jobless claims report is setback to recovery” Headline / CNNMoney.com / October 1, 2009
  • “It’s not going to be an easy slog from here.” Jim Hughes Rutgers University economist
  • QUESTION: Is this the worst economy since the Great Depression?
  • Carter ADMINISTRATION
  • Prime Rate 20% April 2, 1980 Source: www.wsjprimerate.us
  • “Are you better off today than you were four years ago?” Ronald Reagan
  • Paul Volcker “The U.S., along with the rest of the world, is in the midst of a great recession.”
  • col!lapse [kuh laps] –noun. A sudden and complete failure; a breakdown.
  • “You will be confronted with questions every day that test your morals. Think carefully, and for your sake, do the right thing, not the easy thing.” Commencement Speaker St. Anselm College, 2002
  • “Ex-Tyco Chief Executive Kozlowski Sentenced to 8 to 25 Years” Headline / Bloomberg.com / 09.19.2005
  • Strong Fundamental Values “We must demand of ourselves and of each other the highest standards of individual and corporate integrity. We safeguard company assets. We comply with all company policies and laws.” Source: The Tyco Guide to Ethical Conduct
  • ! Regency mahogany bookcase, c. 1810, $105,000 “We safeguard ! George I walnut tallcase clock, $113,750 company assets.” ! Custom queen bed skirt, $4,995 ! Ascherberg grand piano, c. 1895, $77,000 ! Chandelier, Painted Iron, c. 1930, $32,500 ! Pair of Italian armchairs, c. 1780, $64,278 ! Persian rug, 20 feet by 14 feet, $191,250
  • “In corporate America, crime pays. Handsomely. Grotesquely, even.” Arianna Huffington Pigs at the Trough
  • Bad Judgment? Just days after receiving an $85 billion taxpayer- funded loan, AIG spent $440,000 to pamper executives for an entire week at the extravagant St. Regis Resort.
  • Corporate >> FEUDALISM
  • a RECESSION HEART OF THE
  • TRICKLE-DOWN THEORY When government allows businesses to flourish, their resulting profits will ultimately trickle down to lower- income individuals. Aghion, P., & Bolton, P. (1997). A theory of trickle-down growth and development. Review of Economic Studies, 64(219), 151-172.
  • Reaganomics
  • Reach Out vs. Trickle Down
  • a case study
  • “And standing there bareheaded in the sun, apologizing to the beggar, the strangest thought flashed across his mind. He and this poor man were brothers.” Sara Maynard Princess Poverty
  • “Francis, go and repair my church, which, as you ” see, is falling into ruins. SOURCE: Edmund O’Gorman, St. Francis for Today
  • Stones and mortar?
  • Fix the recession!
  • Stocks and bonds?
  • “Furloughs Hit the White- Collar Set” Headline / Wall Street Journal / 02.24.2009
  • Facing $38 million in budget cuts, school officials chose to furlough every employee for five days.
  • Faculty and staff raised over $70,000 to help reimburse 158 lower-wage coworkers for lost income during the furloughs.
  • “And last but not least, we wish to thank our loyal employees. Without them...” —Final paragraph of every annual report
  • 60 MILLION
  • “I prefer to live in a world where this is ordinary.” Leonard Abess
  • 9.8 percent
  • “Was thinking that if each of us helped just 1 person find a job, we could start making a dent in unemployment. You game?” Mark Stelzner
  • In just six months, over 24,000 Job Angels have started helping people find jobs.
  • Francis-canomics
  • “ THE EARLY FRANCISCANS, WITH THEIR PASSIONATE SYMPATHY FOR THE SUFFERING AND The Catholic World October 1903 OPPRESSED, LARGELY CONTRIBUTED TO THE FINAL DISAPPEARANCE OF CORRUPT FEUDALISM.”
  • “A little man may do a great deal of harm; and pray, why not a little man do a great deal of good?” Cotton Mather, 1825 Essays to Do Good
  • If a small group of business figures can cast suspicion on the integrity of an entire nation, why can’t the actions of a small number of morally strong individuals restore the public’s faith that people are generally good?
  • Francis-canomics You might not become a saint—or get the publicity afforded notorious business scoundrels.
  • But those close to you will notice, and you’ll succeed in proving that there are still honorable people in the world today.
  • You game?
  • Rebuilding from the Recession in Your Heart FRANCIS-CANOMICS