On this day of family and feasting, I thought I would turn my column over to the CEO of one of the largest organizations in the world: Pope Francis of the 1.2 billion-member Catholic Church.
This week, the pope issued an apostolic exhortation, Evangelii Gaudium, which had much to say about the world economy and some of the ways it's working - or rather not working - from his point of view.
"It is not the task of the Pope to offer a detailed and complete analysis of contemporary reality," he writes, "but I do exhort all the communities to an 'ever watchful scrutiny of the signs of the times' " (a phrase taken from a 1964 encyclical letter by Pope Paul VI).
Here are some of Pope Francis' observations from a section titled Crisis of Communal Commitment:
"52. In our time humanity is experiencing a turning-point in its history, as we can see from the advances being made in so many fields. We can only praise the steps being taken to improve people's welfare in areas such as health care, education and communications. At the same time we have to remember that the majority of our contemporaries are barely living from day to day, with dire consequences. ...
"This epochal change has been set in motion by the enormous qualitative, quantitative, rapid and cumulative advances occurring in the sciences and in technology, and by their instant application in different areas of nature and of life. We are in an age of knowledge and information, which has led to new and often anonymous kinds of power.
"53. Just as the commandment 'Thou shalt not kill' sets a clear limit in order to safeguard the value of human life, today we also have to say 'thou shalt not' to an economy of exclusion and inequality. Such an economy kills. How can it be that it is not a news item when an elderly homeless person dies of exposure, but it is news when the stock market loses two points? This is a case of exclusion. ...
"Can we continue to stand by when food is thrown away while people are starving? This is a case of inequality. Today everything comes under the laws of competition and the survival of the fittest, where the powerful feed upon the powerless. As a consequence, masses of people find themselves excluded and marginalized: without work, without possibilities, without any means of escape.
"54. In this context, some people continue to defend trickle-down theories, which assume that economic growth, encouraged by a free market, will inevitably succeed in bringing about greater justice and inclusiveness in the world. This opinion, which has never been confirmed by the facts, expresses a crude and naïve trust in the goodness of those wielding economic power and in the sacralized workings of the prevailing economic system. Meanwhile, the excluded are still waiting.
"56. While the earnings of a minority are growing exponentially, so too is the gap separating the majority from the prosperity enjoyed by those happy few. This imbalance is the result of ideologies, which defend the absolute autonomy of the marketplace and financial speculation. ... To all this we can add widespread corruption and self-serving tax evasion, which have taken on worldwide dimensions.
"57. With this in mind, I encourage financial experts and political leaders to ponder the words of one of the sages of antiquity: 'Not to share one's wealth with the poor is to steal from them and to take away their livelihood. It is not our own goods which we hold, but theirs.'
"58. A financial reform open to such ethical considerations would require a vigorous change of approach on the part of political leaders. I urge them to face this challenge with determination and an eye to the future, while not ignoring, of course, the specifics of each case. Money must serve, not rule! The Pope loves everyone, rich and poor alike, but he is obliged in the name of Christ to remind all that the rich must help, respect and promote the poor. I exhort you to generous solidarity and a return of economics and finance to an ethical approach which favors human beings.
Andrew S. Ross is a San Francisco Chronicle columnist. E-mail: bottomline@sfchronicle.com Twitter: @andrewsross
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