Pope:Economy must have an ethical approach that favors integral development

Speaking to the Council for an Inclusive Capitalism, Francis recalled Paul VI's statement that "true development cannot be limited to economic growth alone, but must foster the growth of each person and of the whole person".

Vatican City (AsiaNews) - In a world where "rising levels of poverty on a global scale bear witness to the prevalence of inequality rather than a harmonious integration of persons and nations", a just and reliable economic system is "necessary and urgent and able to respond to the most radical challenges that humanity and the planet are facing ” Pope Francis once stated this morning.

He was receiving members of the Council for an Inclusive Capitalism, which, he recalled, constitutes one of the results of the Fortune - Time Global Forum of 2016, the participants to whom they had wanted to meet Francis.

The Council, said Francis, is one of the results of the Forum, having " ave taken up the challenge of realizing the vision of the Forum by seeking ways to make capitalism become a more inclusive instrument for integral human wellbeing. This entails overcoming an economy of exclusion and reducing the gap separating the majority of people from the prosperity enjoyed by the few (see Apostolic Exhortation Evangelii Gaudium, 53-55) ".

The Pope then encouraged "persevere along the path of generous solidarity and to work for the return of economics and finance to an ethical approach which favours human beings (see ibid., 58)".

And if it is true that "entrepreneurial activity" is a noble vocation aimed at producing wealth and improving the world for all", however, " as my predecessor Saint Paul VI reminded us, authentic development cannot be restricted to economic growth alone but must foster the growth of each person and of the whole person (see Encyclical Populorum progressio, 14). This means more than balancing budgets, improving infrastructures or offering a wider variety of consumer goods. Rather, it involves a renewal, purification and strengthening of solid economic models based on our own personal conversion and generosity to those in need”.

"An economic system detached from ethical concerns does not bring about a more just social order, but leads instead to a “throw away” culture of consumption and waste. On the other hand, when we recognize the moral dimension of economic life, which is one of the many aspects of social doctrine of the Church that must be integrally respected, we are able to act with fraternal charity, desiring, seeking and protecting the good of others and their integral development”.

"It is not simply a matter of “having more”, but “being more”. What is needed is a fundamental renewal of hearts and minds so that the human person may always be placed at the centre of social, cultural and economic life. Your presence here is thus a sign of hope, because you have recognized the issues our world is facing and the imperative to act decisively in order to build a better world. I express to you my heartfelt gratitude for your commitment to the promotion of a more just and humane economy, in line with the core principles of the social doctrine of the Church, always taking into account the whole person, both in the present generation and in the ones to come. An inclusive capitalism that leaves no one behind, that discards none of our brothers or sisters, is a noble aspiration, worthy of your best efforts".