“The relation between morality and economics is necessary and intrinsic even. Economic activity and moral behavior are ultimately joined one to the other. The necessary distinction between morality and the economy does not entail the separation of these two spheres but on the contrary, affirms their important reciprocity.” Thus speaks the Social Doctrine of the Church, Lib. Ed. Vat., 2004, ISBN 88-209-7651-X – as the now incumbent government takes the reigns of working for the socio-economic development of the Country.
The truth of the matter is that man knows what is right or wrong, what is virtuous or vicious – unless he is mentally deranged. So is it too that unless somebody has a grossly erroneous conscience that does not differentiate between good or evil, everybody is considered in possession of reason guided by ethics and in observance of morals in his/her action and reaction patterns. In other words, there is no human activity – economy itself included – that is beyond morality, i.e., outside the sphere of what is good/virtuous or evil/vicious.
While economy is one thing and morality is something else – a difference which is both objective and realistic – one however should remain closely related with the other. Otherwise: One, if economy would be divested of all ethical considerations and moral dimensions, the immediate victim of such a social liability is man and society as all consumers. Two, if ethics and morals wherefore would be irrelevant to economy, people are the eventual losers therein and victims thereof. Three, if economy then would be readily and merely voracious of growth and avaricious in profit, this ultimately leads to the violation of the human person particularly in conjunction with his human dignity and consequent human rights. The truth is that it is sad and hideous even if humanity would be considered by economy as its enemy instead of being its patron and benefactor at the same time.
So it is that morality guides economy for the welfare of people, the good of society, the benefit of economy itself as well. Otherwise, all of them would be losers. There is nothing profound not complicated in such a conclusion whereas this is the standing lesson long since written down in human history – without denying the sad fact that there are the so-called “economists” who are anti-people and instead simply pro-profit such that while looking down at and actually stepping down on man, they practically adore profits as their petty little gods. This is when economy is divorced from morality, when it victimizes man and thus becomes inimical to society. This is when the end (profit, income, wealth) justifies the means (unfair labor practices, dehumanizing working conditions, miserable salary scales).