Pursuit of profit can bring ruin, says Pope

BY STAFF REPORTER
POPE BENEDICT XVI has said that overemphasising the “logic of profit” can bring ruinous effects, as seen in global poverty and the ecological crisis.
The Pope spoke about the demands of economic justice during a Sunday blessing at his summer villa in Castel Gandolfo outside Rome.
The Pope said money “is not ‘dishonest’ in itself, but more than any other thing it can close people off in a blind selfishness”.
He noted that Pope John Paul II had praised positive elements of the modern global economy, especially when it leaves room for human freedom. But Pope Benedict said his predecessor also understood that capitalism should not be seen as the only valid economic model.
“The hunger and ecological emergencies point to growing evidence that the logic of profit, if dominant, increases the disproportion between the rich and the poor and brings a ruinous exploitation of the planet,” Pope Benedict said.
“On the other hand, when the logic of sharing and solidarity prevail, it is possible to correct the route and orient it toward an equitable and sustainable development.” The Pope emphasised that economic justice was a matter of balance. Making a profit is not in contradiction with justice, he said, but the Church teaches that a fair distribution of goods takes priority.