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Pope Francis: Capitalism must consider impact on humanity, environment

Pope Francis: Capitalism must consider impact on humanity, environment

“The precarious condition of our common home has been the result largely of a fallacious economic model that has been followed for too long,” Pope Francis said May 3.

Francis called this economic model “profit-oriented, shortsighted, and based on the misconception of unlimited economic growth,” and said that it results in a “disastrous impact on the natural world.”

“Economic powers continue to justify the current global system where priority tends to be given to [...] the pursuit of financial gain, which fail to take the context into account, let alone the effects on human dignity and the natural environment,” he said.

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