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Economy and finance: Holy See, well-being is more than GDP, no to “profit at any cost”

 

“No profit is legitimate when it falls short of the objective of the integral promotion of the human person, the universal destination of goods, and the preferential option for the poor”. This is stated in the new document of the Holy See on the economy and finance. “Progress within an economic system – the document reads – cannot be measured only by quantitative and profit-driven standards, but also on the basis of the well-being that extends a good that is not simply material”. Progress should therefore “be measured by criteria far more comprehensive than the Gross Domestic Product of a nation (GDP), and must take into account instead other standards, for example, safety and security, the growth of ‘human capital’, the quality of human relationships and of work.  Profit should to be pursued but not ‘at any cost’, nor as a totalizing objective for economic action”. Hence the importance of “humanistic standards” based on generosity, for instance, the ability to create a virtuous “interchange between profit and solidarity that, thanks to the freedom of the human person, unleashes a great potential for the markets”.

 

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