Just economic system is urgent says pope

(ANSA) - Vatican City, November 11 - A "just and fair" economic system is urgent, Pope Francis told an audience of the Council for Inclusive Capitalism on Monday.
    Economics without ethics lead to a "throwaway culture" said the pope, returning to a favourite theme.
    "A just and reliable economic system is necessary and urgent, one able to respond to the most radical challenges that humanity and the planet are faced with," the pope told the members of the organisation.
    "Capitalism must become a more inclusive instrument for integral human wellbeing".
    For a real development, the pontiff said, "balancing the books is not enough".
    He said "a look at recent history, in particular at the 2008 financial crisis, shows us that a healthy economic system cannot be based on short-term profits at the expense of development and productive investments, sustainable and socially responsible in the long term".
    The pope has voiced similar calls in a number of encyclicals.
    Inclusive capitalism is a term composed of two complementary meanings: (1) poverty is a significant, systemic problem in countries which have already embraced or are transitioning towards capitalistic economies, and (2) companies and non-governmental organizations can sell goods and services to low-income people, which may lead to targeted poverty alleviation strategies, including improving people's nutrition, health care, education, employment and environment, but not their political power.