Economics

The World Council of Churches, which claims to speak for most Orthodox Churches around the globe, has formulated a number of proposals to reform the global financial system because of its inherent “injustice.” General Secretary Samuel Kobia sees the need for new transnational financial watchdog organizations that will “qualitatively regulate the growth in massive movements in capital.”

The problem here is that Kobia fails to understand that a global economy requires an international flow of capital — along with an international flow of goods and services and, very often, labor (indeed immigrant labor). In cataloging a long list of ills flowing from the current economic crisis, and the “neoliberal economic myth” of efficient markets, Kobia neglects to mention — or fails to see — how markets work to create wealth, economic growth and jobs. These are not things created by, as he would have it, “democratizing all global finance and trade institutions” across international boundaries. Nor is economic growth created by watchdog groups or ecumenical bodies. And Kobia also fails to see that in some of the most desperate regions of the developing world, including his own native Africa, more and more people are asking only for a chance to operate in a real market economy.

Here are some of Kobia’s more extreme proposals and my parenthetical responses:

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Metropolitan Kirill of Smolensk and Kaliningrad, the President of the Department of Foreign Religious Affairs of the Moscow Patriarchate, has written a prologue or introduction to “The Ethics of the Common Good in Catholic Social Doctrine” (Libreria Editrice Vaticana, 2008) by Cardinal Tarcisio Bertone, the Vatican’s Secretary of State. The article by Metropolitan Kirill was translated from the Italian and into English for the first time by Paola Fantini, an intern in the Rome office of the Acton Institute.

Considering the Orthodox concept of the common good, it must be noted that this concept refers not only to material well-being, not only to peace and harmony on earth, but most of all to the aspirations of man and human society to eternal life, which is the ultimate good of every Christian. For this reason, according to the Orthodox conscience, the debate on the common good will always be incomplete if it considers earthly life exclusively, while the highest good – life in Christ – is ignored by the preachers of radical secularism and vulgar materialism.

This does not mean, however, that the Orthodox Church denies the material aspects of human existence or considers them of little importance to the cause of salvation. The Orthodox Church limits itself to identifying correct priorities and to remembering the words of the Gospel: “What profit is there for one to gain the whole world and forfeit his life?” (Mark 8: 36) Good hard work and the production of material goods can be justified only if they are meant to ensure man a dignified standard of life which will allow him to help others and develop to his spiritual potential. In following such teachings, the individual can actively serve God and his nation. At the same time it must be noted that material goods are not a necessary condition for salvation and therefore their attainment must not become an end in itself, which would destroy the person and the foundations of human society.

Read the entire prologue. Read the review of Cardinal Bertone’s book.

Leaders of the world’s Orthodox churches released a joint statement that touched on far ranging issues of interest to the Church, including the global economic crisis, the environment and the prospects for further pan-Orthodox consultations and a Holy and Great Council.

The primates were gathered for the Oct. 10-12 Synaxis of the Heads of the Orthodox Churches and Pauline Symposium at the Patriarchal Cathedral of Saint George in Istanbul, Turkey. His All Holiness Ecumenical Patriarch Bartholomew I addressed the gathering on Oct. 10, saying that “such a Synaxis is deemed necessary and beneficial, especially in times like ours, when the personal encounter and conversation among responsible leaders in all public domains of human life is rendered increasingly accessible and essential.”

The Message from the Primates, posted on the Europaica site, also pointedly affirmed the Church’s role in the social sphere.

“Efforts to distance religion from societal life constitute the common tendency of many modern states,” the primates said. “The principle of a secular state can be preserved; however, it is unacceptable to interpret this principle as a radical marginalization of religion from all spheres of public life.”

The complete Message of the Primates follows:
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