„New Models of Progress“ (LS 194) – Reviving Practical Wisdom as a New Paradigm in a Market Economy

  • Claudius Bachmann Catholic Faculty of Theology, Charles University in Prague

Abstract

In the light of the far-reaching leadership failures and business scandals of the last decades the question has often been raised of whether we are reaping the results of the practical application of abstract management theory which is actually counteracting a socially, environmentally, and economically sustainable market economy. In this sense, Pope Francis recently called for “new models of progress” to reflect on “the meaning of the economy and its goals” (LS 194). In order to answer these calls, I first provide an overview of the recent discourse in leadership and organizational studies that have critically scrutinized the established theories and models of mainstream business. Second, I draw on the Apostolic Exhortation Evangelii Gaudium and the Encyclical Laudato Si to derive the cornerstones of an ‘evangelizing approach’ to the guiding principles in management theory and practice suggested by Pope Francis. Third, in order to facilitate this renewal I introduce the ancient idea of practical wisdom (prudence) which has recently enjoyed a remarkable renaissance in the literature and is considered as a new transformative paradigm for management theory and practice.
Published
2016-06-30
How to Cite
BACHMANN, Claudius. „New Models of Progress“ (LS 194) – Reviving Practical Wisdom as a New Paradigm in a Market Economy. Acta Universitatis Carolinae Theologica, [S.l.], v. 6, n. 1, p. 49–68, june 2016. ISSN 2336-3398. Available at: <http://theologica.cz/index.php/theologica/article/view/185>. Date accessed: 22 oct. 2019. doi: https://doi.org/10.14712/23363398.2016.3.

Keywords

Evangelii Gaudium; Laudato Si, Management; Market Economy; Practical Wisdom; Prudence