Power, Subsidiarity, and the Economy of Exclusion
American Journal of Economics and Sociology
Published online on September 29, 2019
Abstract
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Abstract
According to Pope Francis, an “economy of exclusion” is an economy with barriers that prevent individuals and groups from participating in the economy and society to their full potential. Power is a key determinant for both exclusion and inclusion. All economies are based on power relations and an “economy of exclusion” is an abuse of power. This contribution looks at what economic power is and how it can build barriers of exclusion or pathways to inclusion. We use income inequality as a measure of exclusion, giving a general history of power and inequality to demonstrate the role of power. Lastly, we look at the concept of subsidiarity in Catholic social thought as a principle to guide the use of power in the economy.
- 'American Journal of Economics and Sociology, Volume 78, Issue 4, Page 923-954,
September 2019. '