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A bit of a mixed bag from Benedict XVI

To be found in a fuller form here.

I like this bit: 'The pope branded international terrorism an "extremely grave phenomenon"'.

Not so keen on this bit: "Benedict went on to amplify his recently expressed views that economic activity based solely on the profit motive is bad for society at large. He criticised "the tendency to identify (economic) welfare with profit" and urged the politicians present to work against "ideologies that can obscure or confuse consciences and convey an illusory vision of truth and good". Benedict said the absence of an ethical dimension in business could "threaten profit itself".

Joseph Ratzinger does not have much of a background in the profit making part of the economy. His father was a cop, and he himself has served in the military (he was drafted, and I'm not going to make any cheap cracks about the Wehrmacht), and been an academic theologian apart from his career in the church.
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Blogger Lord Higham- Murray said... 1:03 pm

He has half a case though in that the scramble for short term profits eventually implodes whereas sustainable profits sustain themselves.  



Blogger Neil Reddin said... 8:33 am

The Left often see "profit" in an over-simplistic way. In practice, a well-managed business may get involved in activity that does not apparently generate (short term) profit but which enhances its brand/reputation, reduces staff turnover, etc, but which then contributes to sustained longer term profitability.

Plus, of course, Trots and Liberals tend to conveniently forget that any business, particularly one that employs people, already makes a "social contribution" (whatever that is) to its community.

The difference between long term profitability and short-termism is that between poor and decent management.  



Blogger Croydonian said... 11:04 am

Neil - well put.  



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