Greed, Poverty and the Global Economic Crisis

Markets, economics, and economists may still command some respect in Washington but as many eminent religious leaders met in Cyprus November 16-18, few if any had a good word to say about them. Relentlessly, the world's economic system was described as valueless, harsh, erratic, and arbitrary, serving only the interests of the rich and driving the poor into deeper misery.

The economic crisis was an inevitable if somewhat discordant theme at the annual "Prayer for Peace", organized by the Community of Sant'Egidio. The meetings began when Pope John Paul II brought together leaders from all major religions in Assisi in 1986. Now, religious and other world leaders (presidents, journalists, public intellectuals, etc.) meet in a different city each year, in a remarkable blend of pageant and symbols (leaders in splendid robes lighting candles and sharing embraces), spiritual moments of deep reflection, the personal witness of people like Ingrid Betancourt, intellectual fare in the form of intense seminar style discussions and speeches, and networking and serious peace talks on the margins.

The meetings are about peace but peace seen as far more than just ending violence. Historian Andrea Riccardi, the Community of Sant'Egidio's founder, sees poverty as inseparable from peace: "If we want peace, we need to go to the poor. There can be no peace while so many millions of women, children and men face the violence of poverty." So the Cyprus agenda was as broad as they come: prayer, climate change, interfaith relations, Iraq, human rights, HIV/AIDS, you name it.

The picture painted of what is driving crisis was very different, in words and images, from those emanating from Washington and New York leader summits. In Cyprus, the villains of the piece are materialism and greed, and their progenitor and perpetrator is the market system. The market is not only broken. It is fatally flawed. The amoral and immoral character of markets and their deliberate indifference to inequity and injustice are the root cause. Other dimensions of crisis - climate change, family disintegration, sufferings of migrants, hunger, and conflict - lie at the door of the Godless "religion" of the market.
Leaders therefore called not for new financial institutions and tweaked financial architecture but for an entirely different approach anchored in humanist values and commitment to solidarity and justice.

But these calls, while sobering, are unsatisfying. Sharp contrasts between the magnificence of liturgies and religious garb and rather abstract quality of the apocalyptic images are jarring. Ironically, many leaders seem barely conscious of the real pain that poor people and countries face already and only dimly grasp the harsh realities that lie ahead. Their declamations tended often to be colored by rose colored images of bygone days. Were our ancestors really so moral, I wonder? And the solutions offered are rather paltry. Even so, the Doomsday messages reflect the deep anger that these leaders are hearing and reflecting and need to be heard.

The somber speeches were only part of the Cyprus story, however. I marveled as declamations of men who could be the prophets of old come to life, dressed in black robes with long white beards, alternated with other voices full of exuberance and hope. A Babel of different voices contrasted doom and hope. And while no one offered believable solutions to the crisis, many offered real insight and wisdom. The problems we face are devilishly complex but the crisis offers the chance for new beginnings. "A new world is possible," concluded Andrea Riccardi, "not as the fruit of magic, but rather as a patient building process..., through daily dialogue, encounter, respect for the other's freedom and diversity, through solidarity towards poor, children, and life in all its manifestations and seasons."

It's only the beginning of an answer but it inspired an exuberant close to the Cyprus Prayer for Peace, as young and old, religious and secular, east and west, north and south promised to work together, with social justice as the moral anchor. Details are pretty sketchy but with that kind of spirit the mountain may budge.

By Katherine Marshall |  November 21, 2008; 11:15 AM ET Save & Share:                 
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celtnolad

Posted by: noletodomrel | December 6, 2008 11:11 AM
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Dear Ms Marshall

Happy Thanksgiving Day!

Soja John Thaikattil
Sydney, Australia

Posted by: Soja John Thaikattil, Sydney, Australia | November 27, 2008 9:28 PM
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Hmmm, it is not "the clergy has theology". The clergy has instead centuries of guilt trips for the "pew and bowing peasants", myths, and embellishments, "profiteering/propheteering" from all three.

And the sources of these are found in the Worst Two Books Ever Written i.e. the koran and the bible!!!

Posted by: Concerned The Christian Now Liberated | November 26, 2008 8:42 AM
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Okay, I give. My previous post was a wee harsh. I was surprised to read:

Katherine Marshall : "Markets, economics, and economists may still command some respect in Washington but as many eminent religious leaders met in Cyprus November 16-18, few if any had a good word to say about them."

In defensive, iffy defence of economists:

- We wear splendid or sombre, but expensive suits. The clergy wear splendid or sombre, but expensive robes.

- We carry stats and calculators. The clergy carry holy texts and rosary beads.

- We have theories. The clergy have theologies.

- We have schools of thoughts. The clergy have schools of thougths, sects, denominations.

- We have "market failures". The clergy have "message failures".

- We argue about best approaches. The clergy argue about best messages.

- Politicians do not listen to us, but only in the advisory capacity. Politicians do not listen to the clergy, but only in the advisory capacity.

- We try to make the world better for everyone by using empirical evidence. The clergy try to make the world better for everyone by theological faith.

- We prophesise on the future based on stats. The clergy prophesise on the future based on the holy books.

- When we are wrong, we blame the market forces and lack of regulatory measures or enforcements. When the clergy is wrong, it blame the believers and their lack of compliance to religious values and dictates.

And, I'll stop at that. We have many similarities with the clergy. So, why blame just us?

Oh, and last bite - Economists can be believers, but the clergy cannot be economists.

Cheers :)
J

Posted by: Jihadist | November 25, 2008 1:31 PM
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Hello Ms. Katherine Marshall,

Thank you for your essay.

Is that a feeling of helplessness, a lack of certainty and sense of direction of where the world is headed that is felt and expressed the religious leaders at the conference?

Quite extraordinary feelings from men and women of faith - in God, in the human capacity to adapt and adjust in times of crisis and challenges. It is not their fault, but secular fiscal and economic policies by governments. If they are feeling hapless, so are millions and millions others.

In these times, the calls by the religious leaders for humanist values, commitment to solidarity and justice as well as social justice to the the moral anchor are quite obvious but timely reminders all the same. Particular for those involved in the formulation and implementation of a new financial architecture (if needed) and putting in place effective economic policies to stem the slide.

One do wonder if religious leaders are having sessions with their "on the ground" members of clergy to encourage the sharing of practical experiences on how best to assist communities towards being cohesive, cooperative, self-reliant and resilient in these difficult times for increasing numbers of people.

We have a joint responsibility for rebuilding the world, a "new world", as posited possible by Andrea Riccardi, to rebuild the world where it shattered, block by block, community by community, country by country. And this is where the clergy is needed in their respectice communities to offer faith and hope to strengthen individual and collective resolve in this endeavour. Better to act up than to whine out.

Thank you and best regards

J

Posted by: Jihadist | November 24, 2008 11:34 PM
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