The Great Gift of ‘Laudato Si’’

Jeffrey Sachs: “Self-interest is a very powerful elixir, capable of spurring the most remarkable economic achievements, but also capable of inciting the most shocking abuses, from slavery to child labor to human trafficking to environmental destruction. A market economy without a moral framework inevitably becomes a profound danger to itself; the intoxicating forces of greed are unleashed without moral restraint and overwhelm our innate sociality, goodness and compassion. Since “Rerum Novarem,” the church has therefore profoundly insisted that while private property rights are to be respected, property rights must be kept within the bounds of the common good. The church calls this the “universal destination of goods,” the idea that market goods must serve a higher moral purpose, not only the blind outcome of market forces.”