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The Wall Street Publication > Blog > Economy > Pope Francis’ views on enterprise, the financial system by way of the years
Economy

Pope Francis’ views on enterprise, the financial system by way of the years

Editorial Board Published April 21, 2025
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Pope Francis’ views on enterprise, the financial system by way of the years
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Fox & Buddies co-host Brian Kilmeade joins Fox & Buddies First to debate VP JD Vances assembly with Pope Francis on Easter Sunday forward of his passing at 88 years outdated. 

Throughout his tenure as the pinnacle of the Catholic Church, Pope Francis, who died Monday at age 88, spoke about how companies and the financial system ought to assist the poor, whereas pushing again on solutions he was anti-capitalist.

The Vatican introduced the loss of life of Francis on Monday after he lately battled double pneumonia, following a sequence of well being challenges in recent times. Francis had recovered sufficient to take part in Easter Sunday festivities in Rome, the place he met with Vice President JD Vance.

Vatican officers introduced in an replace on Monday that the pope died of a cerebral stroke.

Francis, who was born in Argentina and named Jorge Mario Bergoglio, was interviewed by Argentine journalists Francesca Ambrogetti and Sergio Rubin for his or her 2023 e-book “El Pastor,” wherein he mentioned his views on capitalism and the financial system, which had been profiled in “America Magazine” — a Catholic journal printed by the American Jesuits.

“I do not condemn capitalism in the way some attribute to me. Nor am I against the market [economy],” the pope stated. “I am in favor of what John Paul II defined as a social economy of the market. This implies the presence of a regulatory authority, that is the state, which should mediate between the parties. It is a table with three legs: the state, capital, and work.”

POPE FRANCIS DEAD AT 88, VATICAN SAYS

Pope Francis died Monday on the age of 88 following a latest battle with double pneumonia. (Kena Betancur/VIEWpress/Getty Photographs / Getty Photographs)

“In no part of the Bible is there a commandment to produce poverty,” Francis stated. He stated that the favored beatitude “blessed are the poor in spirit” means “the person who is not attached to riches.” He added that “in no way is it bad to produce wealth for the good of all” and that “to produce it is an act of justice. And for that justice to be complete, it has to be distributive.”

Francis stated within the e-book that governmental assist for unemployed employees ought to be designed in such a method that it does “not affect the culture of work,” as a result of “work gives dignity to people.”

In remarks final June to managing administrators and workers of main corporations and banks, Francis stated that companies ought to deal with challenges associated to the atmosphere, the “poorest and the discarded,” in addition to younger folks.

The pope urged them to place the atmosphere on the heart of their consideration and stated, “We are living in a time of serious environmental crisis that depends on many individuals and factors, among which are the economic and business choices of past and present.”

“It is no longer enough merely to comply with the laws of states, which are proceeding too slowly: we need to innovate by anticipating the future, with courageous and forward-looking choices that can be imitated. The innovation of the entrepreneur nowadays must first and foremost be innovation in caring for our common home,” Francis stated.

WHAT AMERICAN CATHOLICS THOUGHT ABOUT POPE FRANCIS

Pope Francis memorialized on the floor of the New York Stock Exchange

The New York Inventory Trade honored the lifetime of Pope Francis with a minute of silence on Monday. (Michael M. Santiago/Getty Photographs / Getty Photographs)

He additionally urged them to “not forget the poorest and the discarded,” saying: “A ‘circular economy has become a key term, calling for reusing and recycling waste. Yet while we recycle materials and their waste, we have not yet learned – allow me to use the expression – to ‘recycle’ and not discard people and workers, especially the most vulnerable, to whom the culture of waste often applies.”

“It is important that you be wary of a certain ‘meritocracy’ that is used to legitimize the exclusion of the poor, who are judged as undeserving, even to the point of viewing poverty itself as their fault,” the pope added. “The challenge is to include the poor in businesses, to make them resources for the benefit of all. This is possible. I dream of a world in which the discarded can become the protagonists of change, yet it seems to me that Jesus has already accomplished that, don’t you think?”

Francis’ remarks additionally inspired companies to increase alternatives to younger folks, who he stated “are often among the poor of our time: poor in resources, opportunities and a future. Paradoxically, this occurs both where there are many of them, yet lacking in means, and where there are fewer and fewer of them – such as in Italy, because children are not being born here – yet with available means.” 

vatican city

Pope Francis led the Catholic Church for 12 years. (Riccardo De Luca/Anadolu by way of Getty Photographs / Getty Photographs)

5 WAYS POPE FRANCIS IMPACTED THE CATHOLIC CHURCH

“We do not learn any job without ‘corporate hospitality,’ which means generously welcoming young people when they lack the required experience and skills, for every job is learned only by doing it,” the pope stated. “I encourage you, then, to be generous, to welcome young people into your businesses, giving them a glimpse of the future so that an entire generation does not lose hope.”

In remarks to Italian household companies in October 2024, Francis stated, “The Church is the family of God, and looks kindly on everything that is family. First individuals and then the family: no! First the family and, within the family, the people.”

“In your case, you are characterized by the delicate balance between family and work, which is expressed in entrepreneurial courage and responsibility. It is good, it is constructive when courage and responsibility go together,” he stated.

BISHOP BARRON REACTS TO DEATH OF POPE FRANCIS, PRAISES PAPACY MARKED BY ‘MERCY AND EVANGELIZATION’

Pope Francis speaks with Deloitte CEO Punit Renjen

Pope Francis advocated for companies to broaden alternatives for the poor and the younger, whereas additionally urging a deal with environmental points. (ALBERTO PIZZOLI/AFP by way of Getty Photographs / Getty Photographs)

“Like the mission of the Church, your activity is generally rooted in a territory, which you are called upon to enrich, both with the witness of family bonds and the seriousness of your professional commitment,” he stated. “May the gift of faith increasingly guide your presence in local realities, and strengthen your participation in the fortunes of humanity. Let us not forget that everything is connected, nothing is isolated.”

Francis stated that the household companies ought to “keep going, to feel that you are part, in the Church, of a larger family and a great undertaking, which is service to the Kingdom of God and to its justice.”

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“I therefore invite you to enlarge your heart and broaden your outlook, to nurture listening, at home and in business, between different generations – this is important, listening between different generations; grandparents with grandchildren, this is very important,” the pope stated. “Believe in the vocation of your children – whatever it may be – and open doors and windows to those who wish to travel a stretch of the road with you.” 

“Let us remember the parable of the talents: none of what has been entrusted to you should be ‘buried’! Do not be afraid, and keep going with confidence,” Francis stated.

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