An extensive new Papal Encyclial was just issued concerning social teaching in light of the current economic crisis. This is an important document, which all Christians should carefully consider. I hope to do a number of posts on it. A taste:
We recognize . . . that the Church had good reason to be concerned about the capacity of a purely technological society to set realistic goals and to make good use of the instruments at its disposal. Profit is useful if it serves as a means towards an end that provides a sense of both of how to produce it and how to make good use of it. Once profit becomes the exclusive goal, if it is produced by improper means and without the common good as its ultimate end, it risks destroying wealth and creating poverty.