Just Finance from the WCC

Hey, back to the actual topic of the blog this morning! All right!

The World Council of Churches recently published their “Statement on just finance and the economy of life”. Some excerpts:

“The current financial crisis presents an opportunity to re-examine our engagement and action. It is an opportunity for us to discern together how to devise a system that is not only sustainable but that is just and moral. Economics is a matter of faith and has an impact on human existence and all of creation.”

“Today’s global financial crisis, which originated in the richest parts of our world, points to the immorality of a system that glorifies money and has a dehumanizing effect by encouraging acquisitive individualism. The resulting greed-based culture impoverishes human life, erodes the moral and ecological fabric of human civilization, and intoxicates our psyche with materialism. The crisis we face is, at the same time, both systemic and moral.”

“Unfortunately, churches have also been complicit in this system, relying on popular models of finance and economics that prioritize generating money over the progress and well-being of humanity. These models are largely oblivious to the social and ecological costs of financial and economic decisions, and often lack moral direction. The challenge for churches today is to not retreat from their prophetic role.”

I urge you to read the entire statement over at their website.

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