One's Observations

A collection of some things I observe along the way.

Retrieving...

"The Vatican called on Monday for the establishment of a “global public authority” and a “central world bank” to rule over financial institutions that have become outdated and often ineffective in dealing fairly with crises."

1 comments:

Catawissa Gazetteer said...

Read the statement from the Vatican, not the reporting about it. And read it in the context of Church teaching. (http://bit.ly/pHXR9D) The Church is opposed to Marxism and all its offshoots and his declared them intrinsically evil. (http://bit.ly/darslu)

There is a pivotal sentence in the statement you reference: "In the tradition of the Church’s Magisterium which Benedict XVI has vigorously embraced, the principle of subsidiarity should regulate relations between the State and local communities and between public and private institutions, not excluding the monetary and financial institutions."

If you don't understand subsidiarity and the social teaching of the Church you need to do some reading. The Church believes in distributive justice which IS NOT re-distributive. The idea is to create truly free markets where everyone has the opportunity to do the best they can. It is opposed to corporatism and cronyism of the sorts that seem to control our markets today. Property rights are at the very core of the system which is known as Distributism.

If you read the statement within the context of Church teaching you'll realize that any global authority would only be used to settle problems that can't be solved at a local level and to establish guidelines based on the natural law and the common good to minimally regulate the markets; just enough to keep them truly free.

The real problem that I see is not with the idea. It's with the implementation. Our fallen nature will corrupt this system just like it does every other. The Church recognizes this and that's why it proposes that any system of this sort be implemented over time, and with careful controls.

The real secret is subsidiarity. If the powers of this world authority can be limited to only those that cannot be exercised at the local level it'll work. In fact, this is the system the Founders used.

Subscribe

Share and Save

Blog directory
Bloggapedia, Blog Directory - Find It!