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Caring Finance Practices

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  • Irene van Staveren

Abstract

The 2008 financial crisis has demonstrated the failure of both utilitarian and deontological ethics in finance. Alternatives do not need to be created from nothing, because the crisis itself has stimulated the emergence of ethically sound finance practices from within the sector. This article presents two cases of such alternatives, which can be understood as caring finance. Caring finance is built around more personal relationships, responsibility, and risk reduction. The examples are from the Netherlands and concern capital financing in a large, international cooperative bank and crowd funding for an organic farm respectively. The case studies cannot replace regulation, but they are feasible complements to regular financial routines, with good private and social returns.

Suggested Citation

  • Irene van Staveren, 2013. "Caring Finance Practices," Journal of Economic Issues, Taylor & Francis Journals, vol. 47(2), pages 419-426.
    • Handle: RePEc:mes:jeciss:v:47:y:2013:i:2:p:419-426
    DOI: 10.2753/JEI0021-3624470215
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    Cited by:

    1. Simon Cornée & Panu Kalmi & Ariane Szafarz, 2016. "Selectivity and Transparency in Social Banking: Evidence from Europe," Journal of Economic Issues, Taylor & Francis Journals, vol. 50(2), pages 494-502, April.
    2. Irene van Staveren, 2014. "The Lehman Sisters hypothesis," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 38(5), pages 995-1014.
    3. Vicente Moreno-Casas & Philipp Bagus, 2021. "The ethics of care and the tragedy of the commons," International Review of Economics, Springer;Happiness Economics and Interpersonal Relations (HEIRS), vol. 68(4), pages 405-422, December.
    4. Hani, Umme & Akter, Shahriar & Wickramasinghe, Ananda & Kattiyapornpong, Uraiporn, 2021. "How does relationship quality sustain the rich world’s poorest businesses?," Journal of Business Research, Elsevier, vol. 133(C), pages 297-308.

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