Although the Church has a corpus of social teaching, it could not be claimed that it has spun a “theology of economics”. There is an obvious need for theologians to apply their religious morals to the economics of the country for the guidance of individuals and the community with regard to liberty, work and the creation of wealth.

I make no claim for originality by submitting this thought to the readers of The Malta Independent on Sunday. I first came across this proposal some years back, when I discovered a seminal study by a Catholic American thinker – Michael Novak. It was published in book form under the title The Spirit of Democratic Capitalism. This book ought to be obligatory reading in universities and seminaries alike.

Novak holds that a huge systematic task still awaits the theologians of the coming generation as they apply their sustained specialisation to current economic realities.

In fact, three specialisations seem to be needed. One must study economic realities in various economic systems as a matter of historical development. One must be seized by the critical aspects of realities such as scarcity, work, money, capital accumulation, production, distribution, inequality, technology, division of labour and so on. This presupposes a general “theology” of economics that provides answers as to what these realities mean to religion and vice-versa. At the same time, there is need for a fair understanding and evaluation of various systems of political economy.

Until the 19th century, systems of slavery were widespread. Feudalism was based on grants of land to a chosen few. There have been mercantilist systems, and several forms of “socialist” systems.

There has been a massive study of various aspects of socialism. There has been a certain amount of studies on State bureaucracy. There have been studies on the market system.

Missing link

But there has been little – in fact next to nothing – that could be described as a theology of what could be roughly described as “the capitalist system”. One expects an in-depth assessment of special ethical dilemmas associated with institutions and practices that occur in particular systems.

In his book, Novak makes a case for an evaluation of business corporations that need to be studied in empirical detail and need, moreover, to be measured by ethical and moral standards. The same applies to State bureaucracies and to decision-making bodies that operate independently of government, but are sustained by public funds.

Challenge

To think theologically about economics is to learn about economics – and this is not the forte of many theologians. Yet clear thinking on exact concepts is of the essence, if people who hunger and thirst after moral rectitude are to have authoritative guidance.

This is probably too big a challenge to be undertaken at one stroke. But there is, no doubt, an undeniable case for doing something about it, and for this task to be undertaken with the priority it deserves.

It is also probably true to say that different situations call for approaches that differ in degree, although there must nevertheless be some common norms that hold water in the light of justice as well as truth

There have been attempts to identify and analyse aspects of liberal economics and liberation theology, but it does not appear that the conclusions have been disseminated as widely and as clearly as one would expect.

Vacuum that must be filled

But many other ethical and moral aspects of everyday economic activity are often left to individual consciences, and people with troubled consciences have nowhere to go, except moralists and father confessors, whose familiarity with economic realities is, more often than not, skimpy, to say the least.

In this age, where the market is simultaneously deified and demonised, the need for guidance is real and urgent. Such guidance is not easy to be had, if at all. Upright citizens who may need enlightenment are prey to spin doctors and the media.

One particular area, relevant to the contemporary local situation, relates to the relationship between politicians and vested interests. Relationships in this area should be properly regulated by law and by accepted democratic norms. .

The law may be otiose or impotent. But, surely, in terms of moral rectitude it is unacceptable that politicians in office and heads of public corporations and entities – the more so if they are paid for full time service to the State – should involve themselves in situations that give rise to blatant conflicts of interest.

Openly hobnobbing with businessmen is suspicious enough in this context. But having personal business links with firms dabbling in government contracts is outrageous and in breach of all norms of moral probity and integrity.

Is there a case for every diocese to gear up its “Justice and Peace” organisations to meet this situation? Is there a case for more specific guidance through pastoral letters or specialised documents, written for a broad readership? Should there be more seminars, addressed by local and foreign specialists, to close the gap?

There seems to be a vacuum that must be filled.

Whether one looks at the world in general, or at the limited confines of these islands, there is a case for a defined moral-cultural base for the guidance of individuals and the community with regard to liberty, work, the creation of wealth and its just distribution, self-restraint and mutual cooperation, and about the sins of the rich as well as the poor.

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