The Vatican has said it will partner with Fortune 500 companies to address various economic grievances, including inequality and environmental degradation. But is it really incumbent upon the Bishop of Rome to virtue-signal?
Anyone entertaining hopes that planet Earth might escape the insanity of 2020 without any more mind-blowing stories may wish to fasten their seatbelts for a hard landing.
At a time when a global pandemic has swept away millions of jobs, and transformed a handful of global capitalists from 'merely wealthy' to fantastically wealthy overnight, Pope Francis has decided to take sides in this epic battle. Any hunches what side that might be? Hint: much like the Vatican, it is immensely wealthy, influential, and acts like a government unto itself.
Yes, you guessed it. Instead of the poor and destitute – you know, 'the meek who shall inherit the earth' rigmarole – taking their rightful place alongside the Pope to fight against globalization on steroids, the Vatican has announced it will form a "historic partnership" with big business, known as the Council for Inclusive Capitalism. You can't make this stuff up. And make no mistake: this is no mere talk shop, but rather a vast undertaking that involves"more than $10.5 trillion in assets under management, companies with over $2.1 trillion of market capitalization, and 200 million workers in more than 163 countries."
"Capitalism has created enormous global prosperity, but it has also left too many people behind, led to the degradation of our planet, and is not widely trusted in society," said Lady Lynn Forester de Rothschild, Founder of the Council and Managing Partner of Inclusive Capital Partners. "This council will follow the warning from Pope Francis to listen to 'the cry of the Earth and the cry of the poor' and answer society's demands for a more equitable and sustainable model of growth."