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Pope Francis: Wall Street, 'Idolatry Of Money' Will Lead Us To Hell
By
Jen Chung
Published Nov 26, 2013
Modified Nov 26, 2013
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By
Jen Chung
Published Nov 26, 2013
Modified Nov 26, 2013
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Pope Francis issued a blistering attack on capitalism and the "tyranny of markets" in his new apostolic exhortation. He wrote, "Money must serve, not rule! The Pope loves everyone, rich and poor alike, but he is obliged in the name of Christ to remind all that the rich must help, respect and promote the poor. I exhort you to generous solidarity and a return of economics and finance to an ethical approach which favours human beings."
Reuters reports, "In it, Francis went further than previous comments criticizing the global economic system, attacking the 'idolatry of money' and beseeching politicians to guarantee all citizens "dignified work, education and healthcare'." The Pope also wrote, "As long as the problems of the poor are not radically resolved by rejecting the absolute autonomy of markets and financial speculation and by attacking the structural causes of inequality, no solution will be found for the world's problems or, for that matter, to any problems."
You can read it online at the Vatican, but here are some passages in which the Pontiff calls on the rich to share their wealth and for everyone to step away from our consumerist culture:
No to an economy of exclusion
- Just as the commandment “Thou shalt not kill” sets a clear limit in order to safeguard the value of human life, today we also have to say “thou shalt not” to an economy of exclusion and inequality. Such an economy kills. How can it be that it is not a news item when an elderly homeless person dies of exposure, but it is news when the stock market loses two points? This is a case of exclusion...
Human beings are themselves considered consumer goods to be used and then discarded. We have created a “disposable” culture which is now spreading. It is no longer simply about exploitation and oppression, but something new. Exclusion ultimately has to do with what it means to be a part of the society in which we live; those excluded are no longer society’s underside or its fringes or its disenfranchised - they are no longer even a part of it. The excluded are not the “exploited” but the outcast, the “leftovers”.
- In this context, some people continue to defend trickle-down theories which assume that economic growth, encouraged by a free market, will inevitably succeed in bringing about greater justice and inclusiveness in the world. This opinion, which has never been confirmed by the facts, expresses a crude and naïve trust in the goodness of those wielding economic power and in the sacralized workings of the prevailing economic system. Meanwhile, the excluded are still waiting. To sustain a lifestyle which excludes others, or to sustain enthusiasm for that selfish ideal, a globalization of indifference has developed. Almost without being aware of it, we end up being incapable of feeling compassion at the outcry of the poor, weeping for other people’s pain, and feeling a need to help them, as though all this were someone else’s responsibility and not our own. The culture of prosperity deadens us; we are thrilled if the market offers us something new to purchase; and in the meantime all those lives stunted for lack of opportunity seem a mere spectacle; they fail to move us.
No to the new idolatry of money
One cause of this situation is found in our relationship with money, since we calmly accept its dominion over ourselves and our societies. The current financial crisis can make us overlook the fact that it originated in a profound human crisis: the denial of the primacy of the human person! We have created new idols. The worship of the ancient golden calf (cf. Ex 32:1-35) has returned in a new and ruthless guise in the idolatry of money and the dictatorship of an impersonal economy lacking a truly human purpose. The worldwide crisis affecting finance and the economy lays bare their imbalances and, above all, their lack of real concern for human beings; man is reduced to one of his needs alone: consumption.
While the earnings of a minority are growing exponentially, so too is the gap separating the majority from the prosperity enjoyed by those happy few. This imbalance is the result of ideologies which defend the absolute autonomy of the marketplace and financial speculation. Consequently, they reject the right of states, charged with vigilance for the common good, to exercise any form of control. A new tyranny is thus born, invisible and often virtual, which unilaterally and relentlessly imposes its own laws and rules. Debt and the accumulation of interest also make it difficult for countries to realize the potential of their own economies and keep citizens from enjoying their real purchasing power. To all this we can add widespread corruption and self-serving tax evasion, which have taken on worldwide dimensions. The thirst for power and possessions knows no limits. In this system, which tends to devour everything which stands in the way of increased profits, whatever is fragile, like the environment, is defenseless before the interests of a deified market, which become the only rule.
He also had hopes for global leaders, "I beg the Lord to grant us more politicians who are genuinely disturbed by the state of society, the people, the lives of the poor."
Francis has been embraced for his humility and his progressive views (he is, though, still against gay marriage but doesn't think the church should judge gays). The Guardian points out, "Since his election, Francis has set an example for austerity in the church, living in a Vatican guest house rather than the ornate Apostolic Palace, traveling in a Ford Focus, and last month suspending a bishop who spent millions of euros on his luxurious residence."
However, some conservative American Catholics aren't so high on the new pope; a Virginia-based blogger told the NY Times "he had come to suspect that Francis is a 'self-styled revolutionary' who wants to change the church fundamentally."
Tagged
capitalism
consumerism
idolatry of money
people's pope
pope francis
progressive
revolution
roman catholic
wall street
Jen Chung
Jen Chung is a former WNYC and Gothamist editor.
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Gothamist is funded by sponsors and member donations
Gothamist is funded by sponsors and member donations
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