Pope Francis and Church Support for Capitalism

Pope Francis' visit to the United States provides us a historical moment; a moment in which we examine the "big picture".  Serious reflection will be given to the state of society; and hopefully many people will be inspired to work towards pragmatic solutions that lead to greater justice and peace.

One area in which Pope Francis has come under attack is the area of economics.  It's important that we clearly and respectfully address those who misunderstand the message.  

Personally, I have worked internationally in the area of impact investing and social entrepreneurship.  Over the past eight years it has become increasingly  clear that market-based solutions to societal issues are feasible and beneficial.  We as the Church encourage this "market" activity which helps vulnerable people, addresses ecological issues, and improves the long-term quality of life for all.

For generations the Catholic Church has worked towards justice in society.  The good news of Jesus Christ is one of love.  Our love of our neighbor leads directly to a recognition of his dignity, and a recognition of the rights that are due to all people.  A few points are helpful reminders of Christianity's effects in society:

• The Church, and Judeo-Christian teaching broadly, has led to the very fabric of our democracy in the United States; and in many instances our democracy works towards justice. 
• The individual liberty we enjoy is a direct result of this democracy, and this liberty is best used to work towards justice in society. 
• One area in which the Church works towards justice is in our clear support for individual ownership of property and businesses. 
• We work to shape policy and to stimulate investments which achieve beneficial outcomes for those in most need. 

The teaching of the Church is one of steadfast pursuit of societal justice, and a responsible application of capitalism.  Too often a corporatist version of capitalism lacks an appropriate appreciation of community and quality of life.  Our love of God leads to a love of neighbor, and a recognition of individual dignity, and that of our common home.  In many instances our democracy in the United States is imbued with the dignity and inviolable rights which the Church has helped propagate.  Our democracy therefore is a system of individual liberty which is best directed towards the greater good.  The Church supports economic policy and free market activity, which intentionally works to benefit those in most need.

Note:  Special thanks for contributions from Jeff Caruso, Executive Director of the Virginia Catholic Conference and Rev. Seamus Finn, OMI, Chair of the Interfaith Center on Corporate Responsibility. 

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For more information:  https://www.slideshare.net/DFickett/democratic-capitalism-stems-from-catholicism

About the Author:  Dale Fickett serves the board of the Virginia Catholic Conference, and he is Executive Director of RVA Works – a public-nonprofit partnership at the City of Richmond.  RVA Works is an incubator putting shape on an innovation ecosystem for impact and returns.  He also serves the Commonwealth of Virginia on the Social Enterprise and Impact Investing Working Group.  Fickett has led research and contributes as a frequent guest lecturer on issues of social responsibility, sustainability, and entrepreneurship.  Wharton School, University of Pennsylvania, Northwestern University, Virginia Commonwealth University, Villanova University, and Trinity College, Dublin.