LONDON — An interesting passage from Pope Benedict’s speech to cultural and political leaders this evening at Westminster Hall in London touched on economic development as an area where moral and ethical values are sorely needed.
After saying the global economic crisis was partly caused by a lack of moral input in the world of finance, the pope turned to the fate of poorer countries:
I also note that the present Government has committed the United Kingdom to devoting 0.7% of national income to development aid by 2013. In recent years it has been encouraging to witness the positive signs of a worldwide growth in solidarity towards the poor. But to turn this solidarity into effective action calls for fresh thinking that will improve life conditions in many important areas, such as food production, clean water, job creation, education, support to families, especially migrants, and basic healthcare. Where human lives are concerned, time is always short: yet the world has witnessed the vast resources that governments can draw upon to rescue financial institutions deemed “too big to fail”. Surely the integral human development of the world’s peoples is no less important: here is an enterprise, worthy of the world’s attention, that is truly “too big to fail”.