Busted: Bankers and The Global Economy

July 7, 2009

Pope: Economy Needs Ethics

Without internal forms of solidarity and mutual trust, the market cannot completely fulfill its proper economic function. And today it is this trust which has ceased to exist, and the loss of trust is a grave loss.” According to the Vatican, the economy needs ethics in order to function correctly, just as the implementation of ethical financing and systems of micro-credit and micro-finance indicate. In development programs, the principle of the centrality of the human person must be preserved, while international organizations might question the actual effectiveness of their bureaucratic and administrative structure. This is one of the central messages of Benedict XVIs new encyclical Caritas in Veritate that was published July 7th and signed by the Pope. If you have been following this blog, you know what is up right now. I don’t need to say another word. ~ E. Manning

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