Christian Examination of World Economics

"Some would like to see Christianity devote all its energy to spiritual matters and stay out of the economic picture entirely." In a recent issue of the Kyunghyang Magazine, a Korea Catholic priest, with a doctorate in economics, presents a number of reasons why the Church should take an interest in world economics: Finances manipulate the world and all of our lives; economics and its power moves the world, buying a good education, assuring better health care; getting respect and the envy of others. In short, many doors to wealth, honors and a good life are often dependent on how successful we have become in manipulating money." (Second segment treated tomorrow.)


The priest lists four ways in which the Scriptures regard money: 1) Poverty is a challenge to the believer; 2) money is a problem for the community; 3) God is asking for justice; 4) the power of money blinds us to the plight of the poor-- the ever present danger of making money our idol.

There are three different theological approaches dealing with economics:

The first viewpoint considers morality as the starting point for economics. The development of economics from the earliest days was based on virtue. "The separation of morality from economics is the problem in our day;" are the words of a Nobel prize winning economist.

The second approach is to expose the the fallacy of those that are approaching economics from an ideological basis, and to show that economics is not a value neutral science. There is a hidden theology as the basis of many economic theories. A Korean theologian in Brazil says in some economic theory there is a borrowing and a distortion of the Christian message: the reason for sin is poverty and the eradication of poverty will bring heaven here on earth.

The third group, which includes Pope Benedict, want to see a small scale networked economy.
"...not only that traditional principles of social ethics like transparency, honesty and responsibility cannot be ignored or attenuated, but also that in commercial relationships the principle of gratuitousness and the logic of gift as an expression of fraternity can and must find their place within normal economic activity. This is a human demand at the present time, but it is also demanded by economic logic. It is a demand both of charity and of truth."(Caritas in Veritate #36)

In Korea we see the effects of a mismanaged economic system, evident also in other parts of the world: not able to find work, forced retirement, gap between rich and poor getting larger, factories going overseas, more people making money with money, discouragement of farmers etc.. This will get many thinking of a better way to manage the world of economics.