Abstract
Bernard Lonergan maintained that economies are goods of order which, when properly disposed, make possible the regular provision of the material conditions for the fuller flourishing human. Lonergan’s economic thought tried to understand the economy related to a society’s civic institutions, political orders, and cultural traditions. In addition, he wished to explain the normative rhythms of economic development and the conditions of its dynamic equilibrium. In this sense, Lonergan’s analysis presents an alternative to conventional accounts of the kind of economic progress the Basque Country has enjoyed in recent decades, in ways that still resonate with the Basque Country’s emphasis on the centrality of the productive process and the values of its people.
Highlights
Bernard Lonergan (1904–1984), a Canadian Jesuit well known for his theological work, advanced an economic analysis which seeks to explain the process of macroeconomic development
In order to explain the contours of an evolving economy, Lonergan sought to define an explanatory set of terms and relations, which in his words, “form a closed circle” in which terms are defined by their relations, relations are fixed by those terms, and “the whole is justified by the degree in which it and its implications are verified” (Lonergan 1999: 9)
For Lonergan, sustained economic development requires successful adaptation to the demands of evolving economies so that the basic and surplus monetary circuits remain in dynamic equilibrium throughout the phases of the productive cycle
Summary
Bernard Lonergan (1904–1984), a Canadian Jesuit well known for his theological work, advanced an economic analysis which seeks to explain the process of macroeconomic development. In his view, the long-term objective of the economy is to increase the standard of living of the entire population, with a special care for the more vulnerable economic actors (Lonergan 1998). The objective of this paper is to apply Lonergan’s account of social and economic development to analyze the transformations that took place in the Basque Country during the period 1980–1993, an interval through which this territory underwent a profound transformation. Main ideas and further questions are discussed in the concluding section
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