This power becomes particularly irresistible when exercised by those who, because they hold and control money, are able also to govern credit and determine its allotment, for that reason supplying, so to speak, the lifeblood to the entire economic body, and grasping, as it were, in their hands the very soul of production, so that no one dare breathe against their will.
Interpretation
Wealth and control over money grant significant power over society and production.
This quote by Pope Pius XI highlights the influential role that those who hold wealth and control credit play in society. It suggests that the financial power they possess extends beyond mere monetary value, allowing them to dictate important aspects of production and the economy, making it difficult for others to oppose their authority or decisions.
In practice
In a discussion about corporate power, one might say, 'As Pope Pius XI eloquently stated, the control of money dictates the power dynamics in our economy.'
Justice requires that to lawfully constituted Authority there be given that respect and obedience which is its due; that the laws which are made shall be in wise conformity with the common good; and that, as a matter of conscience all men shall render obedience to these laws.
It is not enough to be a member of the Church of Christ, one needs to be a living member, in spirit and in truth, i.e., living in the state of grace and in the presence of God, either in innocence or in sincere repentance.
The Rosary is a powerful weapon to put the demons to flight and to keep oneself from sinβ¦If you desire peace in your hearts, in your homes, and in your country, assemble each evening to recite the Rosary. Let not even one day pass without saying it, no matter how burdened you may be with many cares and labors.
It violates right order whenever capital so employs the working or wage-earning classes as to divert business and economic activity entirely to its own arbitrary will and advantage, without any regard to the human dignity of the workers, the social character of economic life, social justice, and the common good.
From it (the Rosary) the young will draw fresh energy with which to control the rebellious tendencies to evil and to preserve intact the stainless purity of the soul. Also in it, the old will again find repose, relief, and peace from their anxious cares. And to all those who suffer in any way, especially the dying, may it bring comfort and increase the hope of eternal happiness.
The family is more sacred than the state.
People who think a tax boost will cure inflation are the same ones who believe another drink will cure a hangover.
Governments must commit to sound economic and financial policies. This is how we ensure reform in the euro area - and our independence.
With neoliberalism discredited and austerity failed, we need to rewrite the rules of the economy once again. But this time in the right way. We need rules that focus on long-term economic growth, and the only kind of sustainable prosperity is shared prosperity.
Raising the minimum wage allows business people to stop thinking about workers simply as costs to be cut and allows you to start thinking about workers as customers to be cultivated.
So that the record of history is absolutely crystal clear that there is no alternative way, so far discovered, of improving the lot of the ordinary people that can hold a candle to the productive activities that are unleashed by a free-enterprise system.
Reforms aimed at increasing an economy's flexibility are always hard - and even more so at a time of weak growth - because they require eliminating protections for vested interests in the short term for the sake of greater long-term prosperity.
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