In a world where the intersection of faith and finance often seems paradoxical, the Catholic Church has consistently provided guidance on how to balance these forces. Pope Francis has notably called for a re-evaluation of economic systems, urging a focus on human dignity and social justice. As the Professor at the Pontifical University of the Holy Cross in Rome, Fr. Christian Mendoza, states, "The way in which Pope Francis is challenging the capitalist system is by saying we should create more encounters. He's not anti-capitalist, he's post-capitalist." 

Faith and finance. Wealth and poverty. The hustle and bustle of the market. The quiet retreat found in a monastery. At a quick glance, faith and finance can seem to be diametrically opposed. But what does the Church actually teach about the economy and what is Pope Francis calling on all of us to do? 

On May 18, 2013, at the start of his pontificate while celebrating the Vigil of Pentecost with the Ecclesial Movements, Pope Francis in St. Peter’s Square said, “This happens today: if the investments in the banks fall slightly: a tragedy. What can be done? But if people die of hunger, if they have nothing to eat, if they have poor health, it does not matter! This is our crisis today!” 

In his Vigil of Pentecost address, Pope Francis highlighted modern society's skewed priorities, contrasting concern for financial markets with indifference to human suffering. This raises a critical question: Is the Gospel’s call to care for the impoverished inherently at odds with our economic systems? 

The Italian economist, Salvatore Rebecchini, offers a perspective that bridges this apparent divide: 

“I always keep in mind,” he says, “the extraordinary teaching of Centesimus annus regarding the criteria that should animate a society in pursuing economic goals, as recalled by Saint John Paul II. He defines the model as a market economy, a free economy, an open economy. It is the best model that can be proposed to the world.” 

Various encyclicals and Church documents offer economic guidance to the faithful. A key document is Centesimus Annus, written by Pope John Paul II in 1991, marking the centenary of Pope Leo XIII's Rerum Novarum. It connects Jesus' teachings to the industrial age, examining Cold War-era issues and still influencing economists today. 

Fr. Christian Mendoza elaborates on this historical interplay between faith and economics: 

“All along church history,” he says, “we see the power of the Christian call for detachment. What we have doesn't belong to us; we use it in the name of God. Pietro di Giovanni Olivi, one of the greatest Franciscans, created the modern accounting system.” 

In the encyclical, Pope Francis calls on the State to ensure justice for the poor and protect the human rights of all citizens. He emphasizes the important role of the economy in this context. Michael Severance, Director of the Acton Institute's Rome Office, which promotes free market principles and religious liberty, reflects on this perspective: 

“The creative call of Pope Francis, and from the very beginning with Saint Francis himself, is to have an economy that cares,” he says. “And having an economy that cares allows us to dig deep into our hearts and ask, ‘What is God's will for the economy, the will for the poor, but above all, what is His will for us within our natural capacities in and in our creative capacities?’” 

Throughout the centuries, the Church has made the call to create a more humane society. 

In 2020, Pope Francis signed his encyclical, Fratelli Tutti, during a visit to Assisi. The document calls for a new kind of politics that rejects radical individualism and promotes the common good. Amid the global pandemic, the 87-year-old Pope used the Gospel story of the Good Samaritan and St. Francis of Assisi as guides for this vision. 

Adapted by Jacob Stein