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Centesimus Annus Foundation President: ‘Much Has Been Simplified About Capitalism, the Market. Abuses Are Being Questioned’

In Interview With ZENIT, Domingo Sugranyes Explained This in the Framework of the 3rd International Prize

Much has been simplified about capitalism and the market; growth cannot be cut off, but integral development is much broader. There is an ample Christian and Catholic tradition in the thought of what the market value is. In regard to the financial abuses of the last ten years, all is being questioned, said Professor Domingo Sugranyes Bickel, President of the Centesimus Annus Pro Pontifice Foundation, questioned by ZENIT in a conversation apart from the presentation of the 3rd “Economy and Society” International Prize, presented in the Holy See Press Office on February 15, 2017.

The winner of the International Prize was German Markus Vogt for his work Prinzip Nachhaltigkeit. Ein Entwurf aus theologisch-ethischer Perspektive. Speaking at the press conference was Cardinal Reinhard Marx, Archbishop of Munich-Freising and the foundation’s President.

“The winner of the Prize has the same vision of Laudato Si’, although he develops it more from the scientific aspect. Basically, a sustainable economy must be a growing economy. However, there must also be an institutional and cultural context of the economic agents so that the effects are favorable for the majority, and this calls for new formulas in each period,” specified Sugranyes.

Asked about the market economy and capitalism, if these are to be condemned or <just> their abuses, The Foundation’s President said: “I think so, the terms would have to be defined. The market economy pre-existed capitalism, he added, recalling that there “is an ample Christian and Catholic tradition on the thought of the value of the market. In regard to capitalism, if it refers to the abuses of the last ten years, well, this is being questioned.”

Responding to ZENIT if there are too many journalistic simplifications on the subject, Sugranyes answered: I believe so; the machine of growth cannot be cut off. It’s another thing to say, as Pope Francis says, that growth doesn’t resolve everything, because integral development is something much broader.”

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