Caring Finance Practices
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.
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