THE CENTESIMUS ANNUS PRO PONTIFICE 2015 STATEMENT - "A Reformed Market Economy: Entrepreneurship for Human Development” - is the result of the May 2013 challenge by Pope Francis to members of CAPP for recommendations on how the market economy might be made more sensitive to the needs of the poor and marginalized.
In May 2013, two months into his papacy, Pope Francis challenged members of CAPP (during a private audience in the Apostolic Palace) to recommend ways the market economy might be made more sensitive to the needs of the poor and marginalized - while retaining the creativity and innovation that are so necessary for human development.
The Foundation took up the challenge and organized a series of conferences, round-tables and meetings in Rome, Dublin, London and New York - attended by a large and varied group of Christian and non-Christian economists, sociologists, philosophers, politicians and military leaders - which addressed models of economy reflecting the principles and practice of Catholic Social Teaching.
This document, “A Reformed Market Economy: Entrepreneurship for Human Development” is the result. It was launched at the Vatican in February, 2015, and has been presented to Pope Francis and the heads of the various Vatican congregations. (Summaries of the meetings held between September 2013 and October 2014 are below and on the Fondazione’s website.
We invite your study and reflection on this work. But, more importantly, we ask you to consider how the suggestions might be implemented through your spheres of influence (parish, community, various business and personal affiliations). Robert A. Nalewajek, President, CAPP-USA
Summaries of each of the three Conferences with Conference Papers:
I May 2014 CAPP International Rome Conference: The Good Society and the Future of Jobs: Can Solidarity and Fraternity be Part of the Business Decisions?”
Session 1 – A geo-economic view of the world on growth, inequalities and jobs –
II September 2014 International CAPP-Conference: Poverty and Development:
a. “Issues of Immediate Relief, Lasting Development and the Need for Solidarity”
III October 2014 “A Dialogue on Finance and the Common Good“ (Dublin)
A- The Role of Ethics
A2. Ethical dilemmas faced by staff in financial services (Ridpath)
A4. A different financial education (Dembinski)
B – Addressing Global Urbanization and Poverty
B2. Scope of Global Banking. Collaboration with UN Millenium goals (Vanni d’Archirafi)
B3. Fight against Financial Crime (Costa)
C1. Who should bear the cost of deleveraging? (Pastor)
C2. Reading recent history: US and European approaches (Beretta)
C3. Balance sheet leveraging rules, credit risk assumption and profit levels (Bonnici)
C4. A realistic framework for financial international governance (Bonnici)
D – Cautious Lending and Service to Customer
D1. Finance at the Service of the People (Garonna)
D2. Customers’ interest and information (Coffman)
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