When I tell people the title of my latest book,
Franciscanomics, many get a puzzled look and say something along the lines of, “Francis who?” Their confusion is understandable. After all, the name seems to imply that the book’s topic is a cross between economics and religious icons. So let me explain.
For over four years now, the country has been stalled in a lingering economic recession. Employers have shed millions of jobs. The auto industry is in a momentous slump. Our largest financial institutions required government bailouts to stay afloat. And a volatile stock market wiped out many people’s retirement savings. Some economists were calling it the worst economic conditions since the 1930s. Former Fed chair Paul Volcker called it the “Great Recession.”
While all that was going on, big corporations with household names were mixed up in scandals involving everything from falsified earnings statements to backdated stock options. Not surprisingly, Americans were not only losing confidence in the financial system, but their trust in those business leaders on whom they relied to orchestrate a recovery.
It was amid this gloomy economic backdrop that Lourdes University alumni officer Shannon Polz handed me a seemingly impossible task: she asked me to deliver a speech at my alma mater’s annual alumni dinner that would make us all feel more positive about the economy.

Fortunately, it was around this time that I’d been reading news stories about ordinary Americans who were weathering the recession by quietly doing good deeds. There was Clemson University’s faculty who, though facing unpaid furloughs, donated part of their salaries to protect the wages of their lower-paid co-workers. There was the bank CEO who made a fortune selling his company and — in a gesture uncharacteristic among today’s greedy top executives — shared his millions with current and former employees. And there was the tech-savvy human resource consultant who found ways to use social media to help thousands of out-of-work strangers find jobs. Whereas news headlines focused on economic misery and high-level corporate misconduct, these uplifting stories received relatively little media attention. So I decided to incorporate them in my speech as a way to counterbalance all the downbeat economic news.
Here’s where the title of the book comes in. Lourdes University, you see, is a Franciscan institution, with values attributed to Saint Francis of Assisi. Noticing an obvious similarity between Franciscan values and the actions of those current-day unsung heroes — the charitable faculty members, the generous CEO, and the tweeting HR consultant — I decided to call my speech “Franciscanomics.”
Afterwards, many of my fellow alums thanked me for the heartening perspective on the economy. And, I thought, that was that.
But word of the speech soon made its way around campus, and I was invited back to present it to the entire administrative staff. And then to a group attending a leadership summit. Before long, companies and nonprofit organizations began hiring me to give the talk to their employees. Franciscanomics was striking a chord among those who heard it. And that inspired me to search for more stories of people selflessly helping others deal with the recession’s fallout. The abundance of those stories prompted me to turn Franciscanomics into a book.
Franciscanomics is not an economic theory, nor is it a book about religion. It’s a simple lesson derived from the life of a humble man who chose sharing over hoarding, purpose over reason, and love over hatred — and stories about current-day people who are making those same choices today. But more than anything,
Franciscanomics is about a change in mindset. It’s about the realization that a recession is not a time to dwell on our own hardships, but an opportunity to help others face theirs.
I hope you'll join the movement.