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Rome Reports

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Pope explains his economic model: Promoting development and not just immediate benefits

The pope met with the Council for Inclusive Capitalism. It is an organization that brings together business people and political leaders to promote an economy for the benefit of all people.

Lady Lynn Forester de Rothschild, the chief executive of the organization, explained the initiative to him.

The council looks for ways to spread the benefits of the capitalist system to everyone, not just the few. That is why the pope told them about the situation of the poor.

Rising levels of poverty on a global scale bear witness to the prevalence of inequality, rather than a harmonious integration of persons and nations. An economic system that is fair, trustworthy and capable of addressing the most profound challenges facing humanity and our planet is urgently needed.

According to Pope Francis, “a healthy economic system cannot be based on short-term profit at the expense of long-term productive, sustainable and socially responsible development and investment.”

Authentic development cannot be restricted to economic growth alone, but must foster the growth of each person and of the whole person.
An economic system detached from ethical concerns does not bring about a more just social order, but leads instead to a “throw away” culture of consumption and waste.

Before concluding, the pope thanked them for their work to promote a more humane and fair economy that leaves no one behind.