Economic Focus Must Shift From Profit to People, Cardinal says

Economic Focus Must Shift From Profit to People, Cardinal says

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VATICAN CITY (CNS) – The current economic model that places profit over the common good of all human beings must change in order to confront the challenges the world is facing today, a Vatican official said. The world must heed Pope Francis’ warning of the dangers of “an economy of exclusion and inequality,” Ghanaian Cardinal Peter Turkson, president of the Pontifical Council for Justice and Peace, told participants at a conference studying the pope’s views on the economy. “We need a new social economy to meet the challenges of the present day, one in which the human being is firmly at the center, where all are included in economic social life, and where creation is cherished and protected,” Cardinal Turkson said. The Sept. 13 event, titled “The Economy according to Pope Francis,” was sponsored by the Pontifical Council for Justice and Peace and the embassies of Germany, the Netherlands and Austria to the Holy See. In his speech, Cardinal Turkson highlighted the pope’s warnings on the “liquid economy,” or an economy judged by the ease with which assets can be converted into cash, and therefore focusing more on finance than on labor and the production of goods.