Pope Francis recently emphasized the need for Catholics to have a deep understanding of financial systems in order to influence fiscal policy positively. He stressed that mere exhortations are not sufficient and called for concrete efforts to uncover and address weaknesses in the financial system. The Pope made these remarks during a meeting with participants in a sustainable finance conference sponsored by the Centesimus Annus Foundation, which promotes the Catholic Church’s social teaching on finance and economics.
He commended the foundation’s aim to integrate effectiveness, efficiency, sustainability, inclusivity, and ethics in financial dialogues. Pope Francis illustrated the impact of ethics on financial practices by highlighting how Spanish theologians criticized the wool trade in the 16th century for its unfair treatment of sheepherders. He emphasized the importance of understanding financial systems, noting that this knowledge carries significant responsibility.
The Pope stressed the scholars’ role in working towards reducing inequality and quoted his 2013 apostolic exhortation, “Evangelii Gaudium,” stating that money is meant to serve, not to govern. Furthermore, he urged them to remain mindful of the real-life implications of financial reform, as the well-being of the most vulnerable individuals is directly affected.
Source: CNS
