The Vatican’s new document Oeconomicae et pecuniariae quaestiones renews the call for greater regulation and more transparency in the global economy, ten years after the financial crisis.
. . . The underlying structural crisis does not seem to have gone away. Indeed, in the last year and, more perspicuously in the past two weeks, it has found a more demanding as well as disquieting focus — student debt as well as the economic albatross of the maturing millennial generation itself. . . . The real scandal is the monstrous moral hazard that the student loan lending system has spawned. It amounts, according to Taibbi, “a shameful and oppressive outrage that for years now has been systematically perpetrated against a generation of young adults.”
Although Meghan Clark and Joseph Tetlow, S.J. have raised some important criticisms of Stacie Beck’s contention that the “social justice agenda” of many Catholics ignores certain basic truths of capitalist economics, they downplay the extent to which the provision of certain basic human rights is dependent on the creation of wealth. The Catholic philosopher Jacques Maritain provides guidance on how to maintain both the grounding of human rights in universal human dignity and the contingency of concrete rights, a balance necessary in the current age of austerity.
As the humanities have rediscovered religion, new sorts of questions are being asked about religion and politics. Religion is no longer imagined as a check box, as the social sciences would like to see it: something you have or don’t, something that comes in one of several flavors of belief. Now that religion is not only about belief but about practices and ideas, with histories, intertwined with other practices and ideas, the intersection of religion and politics is no longer a point, but a varied terrain with multiple dimensions. […]