Benedict XVI: “People, not profit should be the focal point of the economy”

Pope Benedict XVI addressed the economic crisis afflicting the world today during his in-flight Q&A en route to WYD Madrid:

And thus, it is confirmed in the current economic crisis that which had already appeared in previous great crises, that the ethical dimension is not something external to economic problems, but an inner and fundamental dimension. The economy does not only work with a self-regulated market, but needs an ethical way of reasoning in order to work for man. It appears again that what Pope John Paul II had already said in his first social encyclical: man must be the center of the economy and the economy is not to be measured solely according to achieving maximum profits. Its true measure is according to how it serves the good of everyone, including taking responsibility for others, and it works really well only if it works in a humane manner with respect for others."

[. . .]

"If the youth of today have no prospects in life, our today has made a mistake and is ‘evil’. Therefore, the Church with her social doctrine, with its doctrine of responsibility to God, opens man up to the possibility of renouncing profit and seeing things in the religious and humanistic dimension, that is to live for one another. Thus open even the paths. The large number of volunteers who work in different parts of the world, not for themselves but for others, and thereby find meaning in life, show that this is possible and that educating young people to aspire to these great purposes, such as the Church is trying to do, is essential for our future.

Full text at the link.