FIXING THE ECONOMY – THE PATH AHEAD

FEBRUARY 27 2009

Last week I examined the main lines of today’s debate over how to fix the depressed economy, and proposed that economic conditions are never merely the impersonal result of the efficient interplay of rational actors in their exchange of goods and services. No, conditions are heavily influenced by the tendency of fallen human nature to view others as competitors instead of companions in life, and so to pursue self-interest in a selfish and conscienceless way. The root cause of the economic collapse, I said, was an eclipse of conscience and the loss of moral principles as guides to sound economic practices.

Now I offer reflections on what is necessary to really fix the economy.

Basically, the economy is about organizing and conducting those activities directed at providing for the material needs of people, and about developing and maintaining those structures, systems, and mechanisms that will most efficiently facilitate this activity. “Economy” comes from ancient Greek, and means “household management”. The economy’s well-being has no other purpose than the well-being of the people; its improvement can be measured properly only by gauging improvements in the quality of life of the “household” of the human community. Thus, an economy that inequitably distributes the fruits of human labor would not be a healthy economy, regardless of how great a nation’s cumulative wealth may be.

There is, in other words, a moral dimension to all economic issues because they are not just about production and consumption, or about amassing wealth; they pertain to the well-being of the human being, and to the authentic human development of the human community, the “household of humankind”. In searching for an understanding of the causes and cures of economic problems, we must examine the values, priorities, and behavior of individuals, interest groups and political parties, and of ideological, regional, and other joint actors in the economic arena. 

Just as today’s problems had moral roots, so also “fixing” the economy must have a moral dimension. Although capitalism considers each individual a free and separate actor, we must consider our interdependence. We are interconnected – socially, culturally, economically, politically, for the most part religiously, and most fundamentally, humanly. Once we see this, we see that our well-being depends on that of others, and vice versa. To recognize and accept this is to achieve solidarity, meaning that we see that “whatever happens, we’re in this together”. This recognition must lead to more than wishing others well as they go their separate ways, expressing sorrow when they are in trouble and distress, and offering occasional prayers that God watch over them. It must translate into a determination to undertake a reorientation of our lives away from serving self to serving others.

It is not the economic system, but the character and moral convictions of the people that will always be the primary determinant of the quality of their life in community and of the bonds among them.  Consider how the early Christians lived:  “The community of believers was of one heart and mind, and no one claimed that any of his possessions was his own, but they had everything in common… There was no needy person among them, for those who owned property or houses would sell them, bring the proceeds of the sale, and… they were distributed to each according to need” (Acts: 4:32-35).

If we as a society allow our economic activity to be guided by economic theories alone, and not by moral principles and a fundamental commitment to loving our neighbor, as well,  we will create impersonal structures, policies, and mechanisms that pit us against each other competitively.  This will result in a war of all against all, instead of joining us together cooperatively in a civilization of love, where all are for all. Absent moral principles, the structures, policies, and mechanisms we create will be oriented toward selfishness instead of service. Such structures could be described as sinful in themselves, and in need of change.

We must recognize God as the common Father of us all. We must see that he destined the goods of the earth to be shared universally by all his children. The strong must cease to exploit or ignore the weak, and come to their aid. The wealthy and those who have greater economic influence must cease to view others as targets of profit and mere means to greater personal gain, and see them as persons worthy -- by virtue of their human dignity -- of a fair share in the fruits of economic endeavor. The poor for their part should not be passive or leave the organization of society to others, but should take their rightful place in it, make their voices heard, and play their part in building up a civilization of love. We are forbidden by the gospel to hate anyone. All must be loved, the rich and the poor, for their own sakes.

Only when there is a spiritual void in the lives of people will they seek to compensate for that inner emptiness by the acquisition of superfluous material wealth. Money can’t cure us, though, because it can’t love us, and we were created for love. Conversely, only when our spiritual need is met can we put into proper perspective the wise and just distribution and use of our material resources. The only way to really fix the troubled economy is to fix first what troubles our souls.

The good news of the moment is that God can always draw good from evil. Our economic woes offer us a choice. We can view them as the ruin of many of our dreams and hopes for happiness, or as a golden opportunity to rediscover that the best things in life are free, that what matters most are the family and friends we cherish, and that God is ever beckoning us to receive the surpassing treasure of his love that will make us spiritually rich beyond all our imagining.

+Bishop Raymundo J. Peña

last updated 14-Dec-2009 14:42 sitemap