“WCC, an ecumenical fellowship of 349 Protestant, Orthodox, Anglican and other churches representing more than 560 million Christians in over 110 countries, has criticized the current international financial system for not only being “inefficient,” but also “based on injustice.”
The church body urges the United Nations to “take leadership in redesigning an international financial architecture that establishes a global system of regulation as well as enlarges the space for developing country governments to enhance social protection in crisis periods.”
Among the proposed changes to the economic system is unconditional cancellation of illegitimate debts claimed from poor countries; the removal of structural inequalities in the global trade system; the establishment of mutuality, transparency and civil society participation in negotiations; and the formation of a “just and sustainable” financial framework with climate change in mind.
“Rich, industrialized countries have … an ethical and moral obligation to pay for the ecological damages they have inflicted on poor countries through their disproportionate appropriation of natural resources and unsustainable lifestyles,” the WCC statement declared. “
- Full Article from Christian Post
So here’s the wish list for the World Economy:
1) Must be climate friendly
2) Must be “just” and “efficient”
3) Must be “sustainable”
4) Must be one global system (does that mean central planning)
Sure, this sounds peachy, but people aren’t pawns on a chess board and you can’t have massive economic regulation without massive abrogation of individual or local freedoms. Churchmen aren’t exactly economists, and economies happen even when nobody’s looking.
Can you even “manage” a world economy? What about third world countries with corrupt and/or extremist regimes (or constantly changing regimes)? Needless to say that central planning has never…ever…worked, and the terms “just,” “efficient,” and “sustainable” all are subject to interpretation.
To me a “fair” trade would be one where neither side puts up a barrier to exchange, to them “fair” actually means favoring the side they deem more aggrieved.
-Steve K.