I'll admit I've never been an overly religious individual. So my knowledge of the views of religious leadership on the topic of the global economy have been quite limited. But after reading a recent NY Times article, "Pope Urges Forming New World Economic Order to Work for the 'Common Good'", I might have to nominate Benedict XVI for Treasury Secretary.
The Pope criticized the current economic system and urged world financiers to "rediscover the genuinely ethical foundation of their activity". He went on to state that "once profit becomes the exclusive goal, if it is produced by improper means and without the common good as its ultimate end, it risks destroying wealth and creating poverty." If Benny had said this last summer he might have been viewed as a prophet.
I always assumed there was a direct conflict between capitalism and religion. Taking care of the poor and the needy certainly seemed to be the farthest left one can get, and maximizing wealth and profits leaned far right. But I think the Pope was on to something, which has been proven over the last 9 months as we have seen the results of an unchecked system run amok.
Not enough regulation, too many fat cats motivated by short term goals, an abandonment of sound business decision making led by mitigation of risk, and here we stand with hundreds of thousands of people struggling and damaged financially, mentally, and spiritually.
It can't be what a Pope would want to see from an economic system. And it shouldn't be what world business leaders want to see either. I hope the lesson has been learned.
The Pope criticized the current economic system and urged world financiers to "rediscover the genuinely ethical foundation of their activity". He went on to state that "once profit becomes the exclusive goal, if it is produced by improper means and without the common good as its ultimate end, it risks destroying wealth and creating poverty." If Benny had said this last summer he might have been viewed as a prophet.
I always assumed there was a direct conflict between capitalism and religion. Taking care of the poor and the needy certainly seemed to be the farthest left one can get, and maximizing wealth and profits leaned far right. But I think the Pope was on to something, which has been proven over the last 9 months as we have seen the results of an unchecked system run amok.
Not enough regulation, too many fat cats motivated by short term goals, an abandonment of sound business decision making led by mitigation of risk, and here we stand with hundreds of thousands of people struggling and damaged financially, mentally, and spiritually.
It can't be what a Pope would want to see from an economic system. And it shouldn't be what world business leaders want to see either. I hope the lesson has been learned.
No comments:
Post a Comment