Pope says economic activity should be rooted in moral and ethical principles

(April 30, 2010) Economic life should properly be seen as an exercise of human responsibility, intrinsically oriented towards the promotion of the dignity of the person, the pursuit of the common good and the integral development – political, cultural and spiritual – of individuals, families and societies. This was the heart of the message that Pope Benedict XVI delivered to members of the Vatican’s Pontifical Academy of Social Sciences on Friday. Academy members are holding their 16th Plenary Session in Rome from April 30- May 4, to discuss the theme “Crisis in a Global Economy.” Pope Benedict said that the worldwide financial breakdown has demonstrated the fragility of the present economic system… because it overlooks the essentially ethical nature of economics as an activity of and for human beings. He said the current crisis obliges us to re-plan our journey, to set ourselves new rules and to discover new forms of commitment,” which he said is found in the universal natural law. “The natural moral law, which the Church has appropriated, purified and developed in the light of Christian revelation, serves as a beacon guiding the efforts of individuals and communities to pursue good and to avoid evil, while directing their commitment to building an authentically just and humane society. “Among the indispensable principles shaping such an integral ethical approach to economic life must be the promotion of the common good, grounded in respect for the dignity of the human person and acknowledged as the primary goal of production and trade systems, political institutions and social welfare,” the Pope added.