RomeReportsTV – Ethics as path to combatting financial instability.

by | Jan 2, 2012 | Church

RomeReprotsTV – Europe’s debt crisis has taken the world’s economic markets on a roller coaster of ups and downs. It has most recently paved way for the creation of new governments in Greece, Spain and Italy.

Many are saying the underlying problems to this financial instability is a lack of ethics by the people who work in it.

Theologians and professors in Rome are teaming up to create a more concentrated effort in promoting morality when teaching business and finance.

Prof. Francesco Limone
Pontifical University of the Holy Cross (Rome)

“We started this series of seminars in the research of ‘virtuous circles’ that that can be created between the ethics and ‘the end means’, for which we are working to see that profits find the best way to sustain the development of the market system.”

Msgr. Prof. Martin Schlag
Academic Director, “ Market, Culture and Ethics” Program

“I think when we teach business ethics, it shouldn’t be like teaching table manners to cannibals but it means really changing the diet as well.”

In order to create a global economy based on ethics, the group is also taking into consideration the social teachings of all the world’s religions.

Msgr. Prof. Martin Schlag
Academic Director, Pontifical University of the Holy Cross (Rome)

“All great religions have made contributions to social questions and social ethics. We cannot solve the problems of the world on our own so we have to join with other religions and other denominations as well.”

The group has created an international congress called Free Markets and the Culture of the Common Good. They meet every two months with academics, entrepreneurs, and Nobel prize winners in economy, fighting to put ethics at the center of building a new world economy.

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