Six Actions for Economic Justice

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Six Actions for Economic Justice

Every day we make decisions on how to spend our money – whether it is for food, clothing, charitable donations or even how we invest. Each of these financial decisions has an impact on the world and everyone living in it. It is important to understand what impact these decisions have and how we can bring our actions inline with our values. Ultimatly, we will be judged according to how we respond to the hungry, the thirsty, the naked and the stranger.

All people are called to create a more economically just world by responding to the needs of all our brothers and sisters beginning with those in the most need. And despite the complexity of the global economy, there are ways each one of us can make a difference! Here are six ways communities and individuals can contribute to a more just world.

1) Fair Trade Products
There are thousands of farmers and other workers which are paid dismally low wages for products such as coffee, tea and bananas, while, corporations are making large profits.

However, it is possible to support living wages for the working poor around the world. Purchasing fair trade products guarantees a fair and livable wage to growers and producers. Buying fair trade ensures each member of the economic cycle a cut in the profit. When individuals or community groups switch to fair trade coffee a real difference is made in the lives of farmers and their families. More information about supporting fair trade can be found at: http://www.crsfairtrade.org/

2) Community Investments
Financial institutions in the United States and around the world leave many people underserved or forgotten. These people and communities have little or no opportunity to borrow money for housing, community services, job creation and education.

It is possible to uplift these struggling communities by placing a portion of your investments in a community development bank or credit union. Community development banks are similar to traditional banks. However, these institutions focus investments on economic development for underserved communities, building homes, jobs and opportunities. More information about supporting community investments can be found at: http://www.communityinvest.org/

3) Screened Mutual Funds
Investing in screened mutual funds is one way that investors can align their values and economic decisions. These funds screen out certain companies by not investing in them. Screened funds may for example, exclude companies producing alcohol, tobacco and weapons and companies with a poor environmental or human rights record. These funds also seek out and invest in companies operating with similar values as the fund’s investors. There are different funds supporting various values. More information about screened mutual funds can be found at: http://www.socialinvest.org/ or http://www.socialfunds.com/

4) Shareholder Advocacy
While some investors choose to avoid investing in companies with opposing values; a growing number are investing in these companies as a way of influencing company policy and action. Shareholders can file resolutions at annual meetings pushing for changes in company environmental or social practice. Often various stockholders with similar values unite to increase the chances of change. Filing a resolution also brings media attention to important issues, helping to engage other stakeholders such as communities, consumers and other investors.

Communities could hold discussion sessions investigating company practices and finding opportunities for action. There are current opportunities to join Catholic and other faith communities in filing or supporting resolutions. More information about shareholder advocacy and ways to become involved can be found at: http://www.iccr.org/

5) Study Groups on Social Justice and the Global Economy
Making a difference in social and economic justice requires understanding the root causes of our current problems. By understanding how our actions impact people and communities around the world we are taking the first step in working towards justice and sustainability.

Community groups could form discussion groups meeting once a month to discuss topics such as globalization, world debt relief, human rights, fair trade and corporate social responsibility in light of common values. Various educational resources are available on the above topics and others. A good starting place for information is: http://www.crs.org/ or http://www.coc.org/

6) Human Dignity Awards
A community can become involved in promoting positive values in the business community by honoring companies contributing to social and environmental justice. Communities could develop an annual human dignity award, given to companies committed to creating a more just world. Likely candidates would pay fair wages, provide adequate health care, provide work life balance helping to strengthen families, and be active in the local community.

Please keep you values in mind when making economic decisions!