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 sin…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.
The natural effect of low interest is to increase trade and industry; because undertakings of every kind can be prosecuted with greater advantage.
The gold standard did not collapse. Governments abolished it in order to pave the way for inflation. The whole grim apparatus of oppression and coercion, policemen, customs guards, penal courts, prisons, in some countries even executioners, had to be put into action in order to destroy the gold standard.
By killing transparency and competition, crony capitalism is harmful to free enterprise, opportunity, and economic growth. And by substituting special interests for the public interest, it is harmful to democratic expression.
People who live in poor countries have to be entrepreneurial even just to survive.
Burdening people with debt is an old deal not a new deal.
If you don't talk about families, then it's easy to disembody subprime mortgages and asset securitization and unemployment rates without remembering that every one of those numbers is a million families.
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