THE CENTESIMUS ANNUS PRO PONTIFICE 2015 STATEMENT - "A Reformed Market Economy: Entrepreneurship for Human Development” - is the result of the May 2013 challenge by Pope Francis to members of CAPP  for recommendations on how the market economy might be made more sensitive to the needs of the poor and marginalized.  

In May 2013, two months into his papacy, Pope Francis challenged members of CAPP (during a private audience in the Apostolic Palace) to recommend ways the market economy might be made more sensitive to the needs of the poor and marginalized - while retaining the creativity and innovation that are so necessary for human development.

The Foundation took up the challenge and organized a series of conferences, round-tables and meetings in Rome, Dublin, London and New York - attended by a large and varied group of Christian and non-Christian economists, sociologists, philosophers, politicians and military leaders - which addressed models of economy reflecting the principles and practice of Catholic Social Teaching.

This document, “A Reformed Market Economy: Entrepreneurship for Human Development” is the result.  It was launched at the Vatican in February, 2015, and has been presented to Pope Francis and the heads of the various Vatican congregations. (Summaries of the meetings held between September 2013 and October 2014 are below and on the Fondazione’s website.

We invite your study and reflection on this work. But, more importantly, we ask you to consider how the suggestions might be implemented through your spheres of influence (parish, community, various business and personal affiliations).  Robert A. Nalewajek, President, CAPP-USA

The Centesimus Annus 2015 Statement: A Reformed Market Economy – Entrepreneurship for Human Development:  Fondazione Centesimus Annus Pro Pontifice

Summaries of each of the three Conferences with Conference Papers:

I   May 2014 CAPP International Rome Conference:  The Good  Society and the Future of Jobs:  Can Solidarity and Fraternity be Part of the Business Decisions?” 
Conference Summary - Prof.  Fabio Pammolli

Session 1 – A geo-economic view of the world on growth, inequalities and jobs –
Introductory Statement:  Prof. Alberto Quadrio Curzio and Prof. Giovanni Marseguerra
a.  “Global Income Inequality in Numbers:  in History and Now”
      Presenter:  Branko Milanovic - Key Note Speaker (World Bank)

b.  Commentaries of Key Note Speaker’s Paper:
                Alfredo Pastor, IESE Business School
                Francis T. Lui, Hong Kong University of Science and Technology

Session 2 - Solidarity and fraternity: Utopia or fundamental social dimensions?
a.  “Prosperity and Justice For All:  why solidarity and fraternity are key to an efficient,
      ethical economy  Doctor Adrian Pabst - Key Note Speaker
b.  “The economics of crime & the crimes of economics”- Antonio Maria Costa
c.  “Solidarity and fraternity: utopia or fundamental social dimensions?”  Francisco Álvarez, S.J.

FINAL SESSION: Moving towards a Good Society
“Can solidarity and fraternity be part of business decisions”  
Dr. Lawrence Gonzi, (Former Prime Minister of Malta) 
Additional Conference Information

II  September 2014 International CAPP-Conference:   Poverty and Development: 
A Catholic Perspective  (Fordham University, New York)-

Confernce Summary:  Mr. Brian A. Strassburger, S.J.

a.  “Issues of Immediate Relief, Lasting Development and the Need for Solidarity”
      Archbishop Silvano Maria Tomasi, C.S
b.  Introduction to the Examination of “Responding to Immediate Emergencies”
     His Eminence, Theodore Cardinal McCarrick
c.  “The Obligation to Intervene” General Roméo Dallaire
d.  “Poverty and Development – Perspectives from Haiti”
      His Eminence, Chibly Cardinal Langlois
e.  “Suffering and Hope of a Terrorized Community”
      Metropolitan Jean- Clément Jeanbart, Archbishop, Aleppo, Syria
f.   “Migration, Economic Development and Poverty”
      Father Richard Ryscavage, S.J.
g.   “What can Economics Add to a Catholic Perspective on Poverty and Development?”
      Professor Henry Schwalbenberg, Director, Fordham University Graduate School   in
      International Political Economy and Development
h.   “Fraternity and Solidarity: Without which “it is impossible to build a just society and a solid and
      lasting peace”  Robert A. Nalewajek, President, CAPP-USA
Dinner Presentation:  His Eminence, Cardinal Pietro Parolin, Secretary of State, Holy See
Additional Conference Information

III October 2014 “A Dialogue on Finance and the Common Good“ (Dublin)
Conference Host:  
H.E. Msgr. Diarmuid Martin, Archbishop of Dublin
Confernce Summary -   Prof.ssa Simona Beretta
Dublin Proposals (English)

A- The Role of Ethics
Rapporteur:    H.E. Archbishop Diarmuid Martin
Discussants:   Mrs. Barbara Ridpath, Dr. Sean Fieler, Prof. Giovanni Marseguerra,
                     Prof. Paul Dembinski                                                                                  
A1.      Read the facts (Martin)

A2.      Ethical dilemmas faced by staff in financial services (Ridpath)

A3.      Subsidiarity in internal structures of financial institutions (FielerMarseguerra)

A4.      A different financial education (Dembinski)

B – Addressing Global Urbanization and Poverty
Rapporteur:     Prof. Jesus Estanislao
Discussants:    Dr. Francesco Vanni d’Archirafi, Prof. Antonio Maria Costa
B1.      A framework for addressing Global Urbanization and Poverty (Estanislao)

B2.      Scope of Global Banking. Collaboration with UN Millenium goals (Vanni d’Archirafi)

B3.      Fight against Financial Crime (Costa)

C – Systemic Risk, Regulation and Supervision
Rapporteur:     Prof. Alfredo Pastor
Discussants:    Prof. Simona Beretta, Prof. Josef Bonnici

C1.      Who should bear the cost of deleveraging? (Pastor)

C2.      Reading recent history: US and European approaches (Beretta)

C3.      Balance sheet leveraging rules, credit risk assumption and profit  levels (Bonnici)

C4.      A realistic framework for financial international governance (Bonnici)

D – Cautious Lending and Service to Customer
Rapporteur:     Prof. Paolo Garonna
Discussants:    Dr. D’Maris Coffman, Prof. José Manuel González Páramo

D1.       Finance at the Service of the People (Garonna)

D2.       Customers’ interest and information (Coffman)

D3.       Ethics in finance: the post crisis challenge (González Páramo)
                                     Additional Conference Information

Fondazione Centesimus Annus Pro Pontifice

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Just a Thought
Catholic Social Teaching calls on us to undertake work in a responsible manner and to treat workers well, and reminds us that failure to respect the dignity of human work too often results in poverty and insecurity. Read more