Oeconomicae et pecuniariae quaestiones

Considerations for an Ethical Discernment Regarding Some Aspects of the Present Economic-Financial System

Oeconomicae et pecuniariae quaestiones

Entitled "Oeconomicae et Pecuniarie Quaestiones", the document published by the Congregation for the Doctrine of the Faith together with the Dicastery for the Service of Integral Human Development reports "Considerations for an ethical discernment on some aspects of the current economic-financial system". 

From the Introduction:

“[…] The recent financial crisis might have provided the occasion to develop a new economy, more attentive to ethical principles, and a new regulation of financial activities that would neutralise predatory and speculative tendencies and acknowledge the value of the actual economy. Although there have been many positive efforts at various levels which should be recognized and appreciated, there does not seem to be any inclination to rethink the obsolete criteria that continue to govern the world.  On the contrary, the response seems at times like a return to the heights of myopic egoism, limited by an inadequate framework that, excluding the common good, also excludes from its horizons the concern to create and spread wealth, and to eliminate the inequality so pronounced today.

At stake is the authentic well-being of a majority  of the men and women of our planet who are at risk of being “excluded and marginalized”[11] from  development and true well-being while a minority, indifferent to the condition of the majority, exploits and reserves for itself substantial resources and wealth. Therefore, it is time to initiate the recovery of what is authentically human, to expand the horizons of minds and hearts, to recognize faithfully the exigencies of the true and the good without which no social, political and economic system could avoid bankruptcy, failure, and, in the long term, collapse. Selfishness, in the end, does not pay while it makes everyone pay a high price; hence, if we want the real well-being of humanity, “Money must serve, not rule!” ". 

For this reason, the competent and responsible agents have the duty to develop new forms of economy and of finance, with rules and regulations directed towards the enlargement of the common good and respect for  human dignity along the lines indicated by the social teachings of the Church. […]”. (Oeconomicae, 5 - 6).

THE TEXT  

12 June 2018