From Pope Benedict XVI’s encyclical Caritas in Veritate (2009):
The significant new elements in the picture of the development of peoples today in many cases demand new solutions. These need to be found together, respecting the laws proper to each element and in the light of an integral vision of man, reflecting the different aspects of the human person, contemplated through a lens purified by charity. Remarkable convergences and possible solutions will then come to light, without any fundamental component of human life being obscured.
The dignity of the individual and the demands of justice require, particularly today, that economic choices do not cause disparities in wealth to increase in an excessive and morally unacceptable manner,83 and that we continue to prioritize the goal of access to steady employment for everyone. All things considered, this is also required by “economic logic”. Through the systemic increase of social inequality, both within a single country and between the populations of different countries (i.e. the massive increase in relative poverty), not only does social cohesion suffer, thereby placing democracy at risk, but so too does the economy, through the progressive erosion of “social capital”: the network of relationships of trust, dependability, and respect for rules, all of which are indispensable for any form of civil coexistence.
Economic science tells us that structural insecurity generates anti-productive attitudes wasteful of human resources, inasmuch as workers tend to adapt passively to automatic mechanisms, rather than to release creativity. On this point too, there is a convergence between economic science and moral evaluation. Human costs always include economic costs, and economic dysfunctions always involve human costs.
It should be remembered that the reduction of cultures to the technological dimension, even if it favours short-term profits, in the long term impedes reciprocal enrichment and the dynamics of cooperation. It is important to distinguish between short- and long-term economic or sociological considerations. Lowering the level of protection accorded to the rights of workers, or abandoning mechanisms of wealth redistribution in order to increase the country’s international competitiveness, hinder the achievement of lasting development. Moreover, the human consequences of current tendencies towards a short-term economy — sometimes very short-term — need to be carefully evaluated. This requires further and deeper reflection on the meaning of the economy and its goals,84 as well as a profound and far-sighted revision of the current model of development, so as to correct its dysfunctions and deviations. This is demanded, in any case, by the earth’s state of ecological health; above all it is required by the cultural and moral crisis of man, the symptoms of which have been evident for some time all over the world.
83 Cf. Paul VI, Encyclical Letter Populorum Progressio, 33: Acta Apostolicæ Sedis [AAS] 59 (1967), 273-274.
84 Cf. John Paul II, Message for the 2000 World Day of Peace, 15: AAS 92 (2000), 366.
— Caritas in Veritate 32