Encyclical Of Pope Francis Takes On Big Businesses

The encyclical of Pope Francis, which was released recently, has a number of sections focused mainly on the roles of technology and business in dealing with a number of issues. The encyclical delved into profit-making of businesses by encouraging the rejection of the concept of market, which essentially suggests that increasing profits can solve problems. The pope asked if people obsessed with increasing profits will be able to reflect on the damage to the environment they cause and will have to be managed by future generations.

The pope also stated that profits are calculated while paying a small amount for the costs involved. But, when all the costs of using environmental resources are taken into consideration and held by people who essentially use them, the pope asks whether the actions of these individuals are ethical or not.

The encyclical of Pope Francis suggested climate change can be fought through a “revolution.”

The encyclical also touched on bailouts as it indicated that the absolute power of financial systems is reaffirmed when the focus is manly on saving banks while making the public pay the price without having to make a solid commitment in assessing and enhancing the system. The document stated that the system has no future and may only result to future problems following a slow and costly recovery.

The 2007 - 2008 financial crisis was highlighted on the document stating that it was an opportunity to create a new economy that takes into account ethical principles along with new method in the regulation of speculative financial methods and virtual wealth.

Businesses that consider themselves exempt were also mentioned in the encyclical of Pope Francis. It stated that business groups may present themselves as benefactors when a state does not perform its responsibilities. These groups can wield real power and may consider themselves exempt from some rules, up to a point where various forms of human trafficking violence, drug trade and organized crime are tolerated.

The issue on the use of fossil fuels was also touched by the encyclical. It indicated that it was necessary to progressively replace technology founded on the use of fossil fuels, such as coal, oil and gas. The pope also discussed the unhurried move in dealing with environmental issues. The pope said a good amount of debate and civic responses have resulted from the emergence of numerous environmental issues. However, businesses and politics have been sluggish in taking appropriate action in dealing with issues the world has to face.

Encyclical Deals With Big Businesses - image credit: theguardian.com

Social media and the internet as a whole was also touched on by the encyclical of Pope Francis, indicating that the influence of the digital world and media has prevented people from living wisely as well as to give love generously. Due to this, an information overload may drown out the voices of the “great sages of the past.”

The pope also encouraged consumers to change the world by changing their lifestyle and putting a healthy pressure on people who have social, political and economic power. This can be done through the boycott of specific products by consumer movements. The pope said this method was successful in making changes in the operations of businesses, and forced them to take into account the effect of their actions on the environment.

The encyclical of Pope Francis stated that when the earnings of these businesses are affected by social pressure, they find ways in doing things differently. It basically shows the necessity of the “sense social responsibility” among consumers.

It added that the continuous flow of consumer goods prevents people from appreciating each item they acquire. The encyclical stated that “violence and mutual destruction” can result from the continued obsession for a consumerist lifestyle, which may be limited to a small number of people. People can be easily tempted into a “whirlwind of needless buying and spending” due to the tendency of the market to promote consumerism as it aims to sell products to consumers.

The encyclical of Pope Francis also warned at the possibility of the emergence of a new type of speculation from the strategy of purchasing “carbon credits,” which may not be able to help in the reduction of pollutants in the world.

The increase in the number of cars used by people will result to traffic congestion, which increases pollution levels while consuming a huge among of non-renewable energy. This situation makes the building of additional roads and parking areas essential, which can ruin the urban landscape.

The document also indicated that employment, inequitable distribution of energy, social exclusion, violence, drug trafficking, social breakdown, increase in drug use, and loss of identity are among the effects of innovations in technology. The encyclical of Pope Francis indicated that economic and technological developments which do not make the world better enhance the quality of life cannot be considered as progress.

Posted by James Fried on Friday June 19 2015, 10:49 AM EST. All trademarks acknowledged. Filed under World. Comments and Trackbacks closed. Follow responses: RSS 2.0