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Pope argues for ethical economics

15 Jan 2012 - Preaching the News for Sunday

“God raised the Lord and will also raise us by his power,” promises Saint Paul in this Sunday’s excerpt from 1 Corinthians. Pope Benedict XVI would like to see world economic powers raise their ethical standards and create systems that benefit all humanity, he said Monday in his keynote speech for the New Year. The pope said the “grave and disturbing developments of the global economic and financial crisis” that had started in industrialized countries were now infecting the rest of the world and leaving many, particularly the young, disoriented and frustrated. "The crisis can and must be an incentive to reflect on human existence and on the importance of its ethical dimension," he said in French, addressing diplomats from nearly 180 countries. Changes in the economy should not only be "an effort to stem private losses or to shore up national economies, but to give ourselves new rules that ensure that all can lead a dignified life and develop their abilities for the benefit of the community as a whole." A document issued last October by the Pontifical Council for Justice and Peace called for sweeping reforms of the world economy and the creation of an ethical global authority to regulate financial markets. Source: An article by Philip Pullella for Reuters

common good benedict xvi economics economy financial reform business ethics
Mind your own business--ethically, encourages Vatican primer

08 Apr 2012 - Preaching the News for Sunday

Jesus of Nazareth “went about doing good,” the newly emboldened apostle Peter proclaims in this Sunday’s post-Resurrection story from the Acts of the Apostles. Business leaders and entrepreneurs should boldly do the same in their own companies, urges a new handbook on business ethics released by the Pontifical Council for Justice and Peace. "Vocation of the Business Leader: A Reflection" is a 30-page primer that spells out the risks of unethical economic strategies and the principles needed for running a sound, moral business. Its aim is to heal the so-called "divided life" of Catholic employers who may practice their Christian values at home and church but not in the company they manage or run. "Dividing the demands of one's faith from one's work in business is a fundamental error which contributes to much of the damage done by businesses in our world today, including overwork to the detriment of family or spiritual life, an unhealthy attachment to power to the detriment of one's own good, and the abuse of economic power in order to make even greater economic gains," the booklet says. The primer was the brainchild of three business educators: Robert Kennedy and Michael Naughton of the University of St. Thomas in St. Paul, Minnesota and Andre Habisch of the Catholic University of Eichstatt-Ingolstadt, Germany. They were among the 40 Catholic business leaders and professors who attended a February, 2011 seminar at the Vatican on Pope Benedict XVI's encyclical Caritas in Veritate ("Charity in Truth") and how its framework for a new business ethic could be applied practically.What was needed, the three professors concluded, was a simple, concise primer that compiled key principles aimed specifically at helping business schools form ethical leaders and guiding business practices worldwide--from mom-and-pop store owners to corporate executives. The booklet is available in English. Source: An article by Carol Glatz for Catholic News Service

benedict xvi caritas in veritate business ethics vocation of the business leader pontifical council for justice and peace robert kennedy michael naughto andre habisch
Searching for the truth

19 Apr 2015 - Preaching the News for Sunday

In this Sunday’s gospel, Jesus appears soon after the Resurrection in the midst of a gathering of the disciples. After a five-year investigation, the European Union issued a complaint against the kinds of results that appear in Google searches, charging the internet giant with skewing results so that its own shopping service appears ahead of those of competitors. The ruling could change the rules for business online. Homily hint: It’s a fact of life that businesses large and small try to influence and sway our behavior with their messages. Fair enough, as long as the playing field is level. But without good government oversight, the level of manipulation could get out of hand. Support responsible regulation of business in the interests of fair play and ethical business. For more on the EU suit against Google, see: EU accuses Google of hurting consumers, competitors in Web search case; What Is at the Heart of Complaint Against Google?; EU accuses Google of abusing Internet search dominance

business ethics government regulation fair play
Volkswagen strays from the right road

27 Sep 2015 - Preaching the News for Sunday

The psalmist is aware of the snares of sin and realizes the Lord “can detect failings.” The leadership of Volkswagen Group apparently believed they could cheat on U.S. emissions tests without being detected. All of that has unraveled now, and on Wednesday, Volkswagen Group announced that its embattled chief executive, Martin Winterkorn, would be stepping down. The news followed the German car giant's admission that it rigged software to cheat on U.S. emissions tests. The potential reputation and monetary damage the company is facing is enormous, say leadership and governance experts. "Warren Buffett has often noted that you build a reputation over years and decades, but you destroy it in a blink of an eye," said Wharton professor of legal studies and business ethics Thomas Donaldson. "Well, Volkswagen just blinked." Homily hint: Volkswagen, with its beloved “Bug,” has been an iconic brand of simple living and German engineering integrity. All of that has crumbled in light of the shocking revelations of its brazen cheating to hide its polluting diesel engines. The company faces a long road to reconcile itself to consumers and regulators. But all of us have strayed from the right road, so we also need to make space for VW to find its way again. For more on the Volkswagen story, see: The absolutely massive challenge ahead for Volkswagen’s next CEO; Volkswagen Scandal Pressures CEO; Q&A: A look at Volkswagen's emissions crisis

integrity cheating business ethics volkswagen
Volkswagen buyers bugged by betrayal

04 Oct 2015 - Preaching the News for Sunday

The Pharisees, testing Jesus, spring a trick question on him in this Sunday’s gospel. In a follow-up to the stunning revelations last week that Volkswagen tried to trick emissions testers, the company announced that it will recall up to 11 million vehicles programmed with “cheat devices.” With a resigned CEO, buyers feeling betrayed, and massive fines and lawsuits pending, the fallout has been catastrophic for the company that once had a sterling reputation for integrity. Homily hint: Before we point an easy finger at an automaker caught in a lie, let’s be aware of the deceptions we carry out every day to greater or lesser degrees. All of us have distorted the truth for some perceived gain at some time or another. Let’s remove the plank from our own eyes first! For more: VW emissions scandal: VW group to recall 1.2m cars in UK

integrity business ethics pollution