Economics is often seen as a quantitative and objective field. However, there are ethical implications that cannot be ignored. The focus on efficiency and maximizing shareholder wealth can sometimes lead to exploitative practices and neglect of the interests of other stakeholders, such as employees, customers, and the community. The Church's stakeholder view of business, on the other hand, recognizes the importance of considering the well-being and dignity of all those who are affected by a business, not just shareholders.
By taking into account the needs and contributions of customers, employees, and the community, businesses can actually benefit in the long run. Treating stakeholders fairly and ethically can result in customer loyalty, higher employee morale and productivity, and support from the community. This approach not only aligns with ethical principles but it can also lead to sustainable and long-term success for businesses.
It is important to note that the Church does not seek to modify the laws of economics or the methods of business operations. Instead, it emphasizes the need for ethics and a balanced approach to economic analysis and decision-making. By considering the demands of morality and respecting the dignity of individuals, businesses can contribute to the well-being of society as a whole.
Overall, the Church's stakeholder view of business is that of balance—promoting the idea that businesses should not only focus on maximizing shareholder wealth but should also consider the interests and contributions of all stakeholders. This approach, besides being ethically sound, has been shown to be beneficial for the long-term sustainability and success of businesses.
—Summary of III.C of A Summary of Catholic Social Teaching by Fr. Robert Spitzer
Disastrous economic policies from the world’s most powerful corporations and governing institutions have globalists conflicted.
On the one hand, they don’t want worldwide riots/ revolts—or to lose messaging over their global reset (aka Agenda 2030). Their concerns were on full display at the World Economic Forum (WEF) earlier this year:
“In a world beset by complex and interconnected challenges, there is a worrying trend of division. Past years have seen decreasing levels of global collaboration. . . . How can we then stem this tide of fragmentation?” (Dusek, 2023).
On the other hand, globalists want their rapidly accumulating powers and wealth to continue:
“Over the last two years, the richest 1% of people have accumulated close to two-thirds of all new wealth created around the world. . .” (Kiderlin, 2023).
Fortunately for the other 99%, there is an option that provides hope for renewed economic prosperity and long-term sustainability. The Catholic Framework for Economic Life (CFEL) was developed more than 25 years ago by the U.S. Conference of Catholic Bishops. The model (not just for Catholics) consists of ten points outlining essential protections, responsibilities, and opportunities for economic stakeholders. A morality-based model is critical now for at least three reasons. One, damage in some areas of the global economy is irreversible. Two, the planned economic reset will exasperate the problems globalists created. Three, we need to restore integrity and justice in our economic system.
Consequences from Not Following a Morality-Based Economic Model (like the CFEL)
The ten points of the CFEL follow (in bold), with examples of consequences of not following its basic principles (in italics and underlined).
Morality-Based Economic Model Point #1
The economy exists for the person, not the person for the economy.
The CFEL is preferable to a system where most wealth gains go to the top 1%.
This is even inconsistent with the DEI agenda globalists advocate:
- Diversity—economic diversity between stakeholders is nearly nonexistent.
- Equity—wealth disparities are even more extreme.
- Inclusion—most people in the world were excluded from wealth gains (not included).
Morality-Based Economic Model Point #2
All economic life should be shaped by moral principles. Economic choices and institutions must be judged by how they protect or undermine the life and dignity of the human person, support the family, and serve the common good.
The CFEL is preferable to a system where many energy supply chains have been destroyed.
Alternative energy sources, feasibility, and transition costs were massively miscalculated. Many nations now have energy shortages, forcing them to transition back to previous methods just to relieve human suffering and degradation. Economic choices and institutions have undermined individuals, families, and the common good. This failure is not consistent with the CFEL.
Morality-Based Economic Model Point #3
A fundamental moral measure of any economy is how the poor and vulnerable are faring.
The CFEL is preferable to a system where global food insecurity has soared.
Energy shortages exasperate food supply chain problems:
“The problem with an energy crisis is that it’s actually an everything crisis. . . . Energy crises impact nearly every aspect of our lives, and that is particularly true of food markets. . . . As always, the poorest countries will pay the biggest price. . .” (Zaremba, 2022).
The poor are poorer, and the vulnerable have become even more vulnerable.
Morality-Based Economic Model Point #4
All people have the right to life and to secure the basic necessities of life (e.g., food, clothing, shelter, education, health care, safe environment, economic security).
The CFEL is preferable to a system where immigration policies have collapsed.
Many global corporations and their governing partners, with cheap labor and political agendas, have made conditions horrendous for both migrants and citizens. Quality of life (and destruction of life itself) is abysmal, and so is this type of governance. The redistribution of the global population may have been advantageous for the economic elite—but it has been disastrous for millions around the world to secure the basic necessities of life.
Morality-Based Economic Model Point #5
All people have the right to economic initiative, to productive work, to just wages and benefits, to decent working conditions, as well as to organize and join unions or other associations.
The CFEL is preferable to a system where labor disruptions from technologies have not been addressed.
Globalists have used robotics, automation, and AI for decades to increase globalization, outsourcing, and build complex supply chains. But little has been done to mitigate against the adverse impact on average workers.
“In the Catholic tradition, work is seen as a fundamental aspect of human dignity and a means of providing for oneself and one’s family, and so technologies that threaten the availability of work can be seen as a danger” (Gan, 2023).
The unwillingness of governing entities and globalists to address these concerns is inconsistent with this CFEL area. Over the past two years, however, the richest one percent did demonstrate the willingness to leverage those technologies for two-thirds of the worldwide wealth gains.
Morality-Based Economic Model Point #6
All people, to the extent they are able, have a corresponding duty to work, a responsibility to provide for the needs of their families, and an obligation to contribute to the broader society.
The CFEL is preferable to a system where distorted ESG language has adversely impacted many from participating/ contributing.
Distorted Environmental, Social, and Governance language, applications, and metrics prevent individuals from working, supporting their families, and contributing to society. Entire industries and regions have been economically destroyed because ESG variables are often biased against individual self-sufficiency. Workers, business owners/entrepreneurs, and small investors do not have the resources, conditions, or opportunities to provide for their families and communities.
Morality-Based Economic Model Point #7
In economic life, free markets have both clear advantages and limits; government has essential responsibilities and limitations; voluntary groups have irreplaceable roles but cannot substitute for the proper working of the market and the just policies of the state.
The CFEL is preferable to a carrot/stick system for unjust governing policies.
Globalists frequently create a panacea perception to make the new world order more appealing. That’s the carrot—as in trying to convince others they will be happier and better off by not owning anything.
“Before you can transform any system, you must first liberate the minds trapped within that system." (Shurk, 2023).
The stick: assuring that wealth transfer occurs by making the old world order less appealing. But unjust policies that incentivize economic destruction for so many are contrary to this CFEL point (especially when 2/3 of the new wealth gains go to the richest 1%).
Morality-Based Economic Model Point #8
Society has a moral obligation, including governmental action, where necessary, to assure opportunity, meet basic human needs, and pursue justice in economic life.
The CFEL is preferable to a system where public welfare //health has been compromised.
Global health policy experts have been wrong on almost everything COVID-19. Every day, new information surfaces about the adverse impact of these decisions. Human needs and justice in economic life are adversely impacted by failed governmental action, including global entities like the World Health Organization (WHO). The aggressive push to further relinquish national healthcare sovereignty will only exasperate human needs deficits and damage public welfare. Public health outcomes, transparency, confidence, and autonomy must be restored. "First, do no harm" should still apply in public health policy areas.
Morality-Based Economic Model Point #9
Workers, owners, managers, stockholders, and consumers are moral agents in economic life. By our choices, initiative, creativity, and investment, we enhance or diminish economic opportunity, community life, and social justice.
The CFEL is preferable to a system where transhumanism areas directly opposed to faith principles are encouraged.
Transhumanism is often thought of as designer humans. Deciding on what humans are, however, is God’s decision alone. Diligence about all aspects of transhumanism is necessary because it is prolific throughout our global economic system.
“The transhumanism of the ‘Fourth Industrial Revolution,’ and the ‘Internet of Bodies,’ are not ideas randomly floated by one or two participants; they are the fully endorsed positions of the WEF. . .” (Free Enterprise Project, 2022).
Decisions to pursue immoral transhumanism and bio-digital convergence areas are the antithesis of being an economic, moral agent.
Morality-Based Economic Model Point #10
The global economy has moral dimensions and human consequences. Decisions on investment, trade, aid, and development should protect human life and promote human rights, especially for those most in need, wherever they might live on this globe.
The CFEL is preferable to a system where other policies have put the global economy under assault.
Around the world, there has been wasted spending, inflation, bank failures, sovereign debt crises, and unprecedented risk. Many nations and economic alliances have been driven apart. This has fueled friction, instability, de-dollarization, Central Bank Digital Currency decisions, etc. Irresponsible policies increasing volatility are harmful to human development and inconsistent with the CFEL.
A Hopeful Alternative to Economic Chaos
Current globalization policies are the reason we have so much worldwide division, segmentation, and fragmentation. Expediting an economic reset by the same individuals who made the world’s current crises so deep and converging is senseless. For the sake of the world’s 99% and future generations, we must do better than the path that brought us to this destructive point. Most people want economic leaders who believe in a system that is fair, has real sustainability, and works for everyone (not just the richest 1%). A morality-based model like The Catholic Framework for Economic Life could be a hopeful alternative for consideration.
References
- “A Catholic Framework for Economic Life”. United States Conference of Catholic Bishops (2015). Retrieved 9/19/22 (https://www.usccb.org/resources/catholic-framework-economic-life-0).
- Dusek, Mirck. “Time to stem the tide of fragmentation. Here's how”. World Economic Forum Annual Meeting. January 14, 2023. Retrieved 2/2/23 https://www.weforum.org/agenda/2023/01/time-to-stem-the-tide-of-fragmentation-davos-2023/.
- Free Enterprise Project. Press Releases by the National Center. “After Twelve Years in Davos, Morgan Stanley CEO Claims Not to Know WEF Agenda”. NationalCenter.org. May 26, 2022. Retrieved 9/20/22. (https://nationalcenter.org/ncppr/2022/05/26/after-twelve-years-in-davos-morgan-stanley-ceo-claims-not-to-know-wef-agenda/).
- Gan, Eugene. “The Looming Artificial Intelligence Crisis”. Crisis Magazine. January 24, 2023. Retrieved 5/6/23(https://www.crisismagazine.com/opinion/the-looming-artificial-intelligence-crisis).
- Kiderlin, Sophia. “The richest 1% of people amassed almost two-thirds of new wealth created in the last two years, Oxfam says”. CNBC.com. January 16, 2023. Retrieved 2/2/23 (https://www.cnbc.com/2023/01/16/richest-1percent-amassed-almost-two-thirds-of-new-wealth-created-since-2020-oxfam.html).
- Shurk, J.B. (January 14, 2023). “A Revolution in the Minds of the People”. American Thinker. January 14, 2023. Retrieved 2/2/23 (https://www.americanthinker.com/articles/2023/01/a_revolution_in_the_minds_of_the_people.html)
- Zaremba, Haley. “Europe’s Natural Gas Shortage Could Trigger A Food Crisis”. Oilprice.com. September 12, 2022. Retrieved 9/19/22 (https://oilprice.com/Energy/Energy-General/Europes-Natural-Gas-Shortage-Could-Trigger-A-Food-Crisis.htm).