Reflections on the 2024 First Annual International Conference on Finance for the Common Good
From August 8–10, 2024, scholars from around the world convened at the University of Dayton for the First Annual International Conference on Finance for the Common Good. This inaugural gathering brought together academics, practitioners, and faith-informed thinkers from 32 institutions in 11 countries around the world, committed to exploring how finance can serve the human person, families, communities, and the common good.
Organizers and Institutional Leadership
This landmark conference was made possible through the vision and tireless organization of Dr. Andrew Beauchamp and Dr. Maria Vivero of the University of Dayton and Dr. Aneta Klopocka of the University of Economics and Human Sciences, Warsaw, Poland. Their work created a space for sharing excellent academic research, engaging in friendly interdisciplinary dialogue, and thinking deeply about the conference theme of the Common Good. In recognition of the conference’s success, preliminary plans are already underway for a second international conference in 2026, thus extending this global conversation on Christianity, finance, and the common good.
Themes and Scholarly Contributions
Seven themed sessions covered topics ranging from Catholic Social Teaching (CST) and capital markets to climate finance, financial inclusion, household savings, and the moral foundations of business strategy. A common thread running through the sessions was the conviction that finance must be judged not only by technical efficiency or shareholder returns but by its contribution to integral human development, social solidarity, and the common good. The following quote captures the spirit of many of the papers in the conference:
It is evident therefore that the economy, like every other sphere of human action, ‘needs ethics in order to function correctly—not any ethics whatsoever, but an ethics which is people-centred.’
Oeconomicae et pecuniariae quaestiones, §8, quoting Caritas in Veritate [D1] §45
Papers by Gabriel Martinez and Steven Dolvin were selected for this special issue of Faith & Economics and epitomize the spirit of many papers presented at the conference. Martinez’s theological–economic analysis of financial crises argues for a recovery of CST principles, including subsidiarity, solidarity, and the universal destination of goods, to stabilize markets, restore moral order, and learn important lessons from past crises. Dolvin’s empirical research revealed how social and religious factors, including church affiliation, are related to patterns of net worth through mechanisms of social trust and confirmation bias. Other papers presented at the conference, but not included in this edition of Faith & Economics, introduced frameworks rooted in virtue ethics, team reasoning, and pedagogical strategies for cultivating a dignity-centered economic mindset. Additional themes included institutional reform and governance; climate finance, greenwashing and environmental justice; economic inequality, access and inclusion; and ethical foundations for finance. The presentations highlighted both the possibilities and perils of modern finance, underscoring the need for moral discernment in financial decision making.
Keynote Address by Dr. Martijn Cremers: Finance as a Moral Enterprise
A highlight of the conference was the keynote address delivered by Dr. Martijn Cremers, Dean of the Mendoza College of Business at the University of Notre Dame. In a talk that had both intellectual and spiritual insights, Cremers proposed a compelling vision of finance as a moral enterprise capable of contributing meaningfully to human flourishing but only when guided by faith-informed discernment and an orientation toward the common good.
Cremers began his address with a reflection on the parable of the Rich Fool (Luke 12:13–20), posing the question: Why does Jesus call the man a fool? Cremers suggested it is not because he was a businessman (business is recognized as a noble vocation), nor because he was rich (Christian tradition affirms the legitimacy of private property), nor even because he acquired wealth unjustly (no such charge is made in the Gospel of Luke). Rather, he is called a fool because of his misdirected purpose, his distorted priorities, and his self-centered practice. Cremers highlighted the repetition of the words “I” and “my” in the parable to underscore the man’s self-focused logic: he fails to recognize the relational nature of his gifts, and he orients his labor solely toward private consumption.
In contrast, Cremers articulated a theological and strategic framework grounded in the logic of gratuitousness. He proposed that finance, rightly ordered, reflects “shared purpose” directed toward the common good; “shared priorities” animated by cooperation and solidarity; and “shared practices” exercised with excellence, guided by subsidiarity. These pillars give rise to what Cremers calls the “Three Common Goods of Finance”: shared information, shared risk, and shared discipline.
Using Hokusai’s famous woodblock print “The Great Wave of Kanagawa” as a metaphor, Cremers illustrated the condition of modern finance: a field often characterized by turbulence, volatility, and competitive pressure. The boats in the image, carrying human beings working in unison, signify the necessity of team reasoning and coordinated efforts rooted in relationship, mutual accountability, and the complementarity of roles. Meanwhile, Mount Fuji in the background serves as a visual compass, symbolizing the necessity of having an enduring reference point for moral discernment. In Cremers’ framing, finance requires not only strategic coordination (team reasoning) but also a coherent moral ordering and orientation: a compass rooted not simply in utility maximization but also in the theological virtues of faith, hope, and love.
Faith, according to Cremers, provides the vision of the common good and shared purpose. Hope motivates action and financial decision making rooted in shared practice. Love enables sound moral judgment and relational commitment, manifesting in shared priorities that elevate the dignity of persons and communities. This moral compass neither eliminates nor dismisses the role of market competition but reframes it within a broader logic: not of value extraction and exit, but of gift, gratitude, and mutual flourishing.
Cremers’ keynote address represented an invitation from a distinguished scholar to rethink the normative foundations of finance. His vision offers not only a critique of dominant paradigms but also a constructive path forward: one in which financial systems become instruments of the common good, animated by a deeper understanding of purpose, priority, and practice.
Outcomes of the Conference and Future Directions
Three themes emerged as priorities for future research and collaboration:
- Normative Integration in Financial Theory
The conference showcased growing interest in integrating theological and philosophical anthropology into financial modeling. Scholars are exploring how assumptions about human dignity, moral agency, team reasoning, and community might reshape models of risk, value, utility, and human well-being. - Authenticity, Non-instrumentality, and Institutional Trust
Several presentations highlighted the paradox that stakeholder engagement, purpose, and well-being yield economic value only when pursued authentically without instrumental intent. This insight opens promising ground for empirical and theoretical work on the role of human intent, authenticity, trust dynamics, and purpose-driven governance. - Global and Interdisciplinary Collaboration
With participants from Europe, Asia, Africa, and North America, the conference confirmed an international interest in future research consortiums or working groups focused on “Finance, Human Flourishing and the Common Good.”
Conclusion
By elevating questions of purpose, dignity, and the common good alongside rigorous academic work, the 2024 International Conference on Finance for the Common Good created an intellectual space for a more humane, relational, and spiritually informed understanding of finance. As Dean Cremers reminded us, the moral and academic imperative is to re-envision finance in the service of the human person, created in the image and likeness of God, and destined for communion with Him and with each other. With God’s grace, the fruits of this conference will inspire future research, teaching, and intellectual renewal.
Congregation for the Doctrine of the Faith and Dicastery for Promoting Integral Human Development. Oeconomicae et pecuniariae quaestiones: Considerations for an Ethical Discernment Regarding Some Aspects of
the Present Economic-Financial System. Vatican City: Libreria Editrice Vaticana, 2018.
Benedict XVI. Caritas in Veritate. Vatican City: Libreria Editrice Vaticana, 2009.