Exploring the Common Good
Pat Riordan SJ, a philosopher, looked at the topic of the Common Good in the Loyola Institute on Halloween night. He considered whether there is an agreed upon goodness towards which we can orientate ourselves or whether the perceived good always be relative to the individual – what is good for one may not be good for another.
He starts by talking with Pat Coyle about the economist Jean Tirole, who won a Nobel Prize for Economics in 2014 “for his analysis of market power and regulation”. Pat Riordan SJ initially says that economics as a science is starting to be distrusted because many people felt betrayed by market power after the crash. So much so that Tirole, followed up his work on Economics with an book entitled, “Economics for the Common Good” to show that Economics should and can be used for the service of people.