Written back in 2009, not too sure whether the current Pope is on line with profits.
Pope Likes Profit but not At All Costs
Former Pope Benedict XVI made an interesting statement in 2009:
“Profit is useful if it serves as a means toward an end,” he wrote. “Once profit becomes the exclusive goal, if it is produced by improper means and without the common good as its ultimate end, it risks destroying wealth and creating poverty.”
Good to hear his holiness not denounce profit, and stating the obvious that simply getting profits at all costs might not be the best thing for everyone, is still a good thing to point out. We have lived through decades of “ends justifies the means” profit taking by many companies, and countries and at the end of it all, most of us get screwed by all of this money grubbing.
When is it enough money? That’s an individual decision, but it seems in large firms, the answer is, “Never enough money!”, unfortunately.
Individual Bankruptcies up 31% Year over Year
In a less happy bit of data the Office of the Superintendent of Bankruptcy Canada published data showing personal bankruptcies are up a whopping 31% from last year at this time. The number quoted for personal bankruptcy is big and worrisome too, given the Canadian bankruptcy laws (check out the web site for exact definitions and helpful hints on what other ways you can deal with crushing debt loads).
I agree with his holiness on this one. Companies that focus on providing a valuable service for their customers (whilst of course making profit along the way) will have a long and profitable future.
I was impressed by the statement as well, very insightful.