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Questions and Answers
Pope Benedict has noted that the African continent is free from economic pitfalls.
Pope Benedict has noted that the African continent is free from economic pitfalls.
False
According to John Paul II's social encyclical, man must be the center of the economy.
According to John Paul II's social encyclical, man must be the center of the economy.
True
Economic inequalities among individuals do not threaten global solidarity.
Economic inequalities among individuals do not threaten global solidarity.
False
An unfettered economic market is considered safe and beneficial without restrictions.
An unfettered economic market is considered safe and beneficial without restrictions.
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The economy should be measured solely according to the maxim of profit.
The economy should be measured solely according to the maxim of profit.
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Catholic Social Thought emphasizes the need for economic markets to operate without any regulations.
Catholic Social Thought emphasizes the need for economic markets to operate without any regulations.
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Pope Benedict emphasized the necessity of an ethical reason for the economy to function effectively.
Pope Benedict emphasized the necessity of an ethical reason for the economy to function effectively.
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The Pontifical Council on Justice and Peace published a note in 2011 addressing social teaching related to global financial systems.
The Pontifical Council on Justice and Peace published a note in 2011 addressing social teaching related to global financial systems.
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The principle of subsidiarity allows for a global authority to take precedence over local institutions.
The principle of subsidiarity allows for a global authority to take precedence over local institutions.
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A world central bank is one of the reforms proposed to improve international financial and monetary systems.
A world central bank is one of the reforms proposed to improve international financial and monetary systems.
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Catholic Social Thought promotes the idea that economic liberalism is beneficial without any restrictions.
Catholic Social Thought promotes the idea that economic liberalism is beneficial without any restrictions.
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Pope John XXIII and Pope Benedict both called for a world political authority to address global issues.
Pope John XXIII and Pope Benedict both called for a world political authority to address global issues.
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The importance of maintaining peace and world equilibrium is a central theme in Catholic Social Thought.
The importance of maintaining peace and world equilibrium is a central theme in Catholic Social Thought.
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Between 1900 and 2000, world population increased almost fourfold.
Between 1900 and 2000, world population increased almost fourfold.
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Globalization led to a decrease in average per capita income worldwide.
Globalization led to a decrease in average per capita income worldwide.
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The distribution of wealth became fairer from 1900 to 2000.
The distribution of wealth became fairer from 1900 to 2000.
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Catholic thought distinguishes itself from a free market ideology.
Catholic thought distinguishes itself from a free market ideology.
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Individualism and utilitarianism can undermine the common good.
Individualism and utilitarianism can undermine the common good.
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Individual utility always favors the common good.
Individual utility always favors the common good.
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Recapitalization of banks with public funds requires virtuous behaviors.
Recapitalization of banks with public funds requires virtuous behaviors.
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A strong ethic of solidarity is unnecessary for a healthy economy.
A strong ethic of solidarity is unnecessary for a healthy economy.
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The separation of investment banking from other financial services is believed to support the common good.
The separation of investment banking from other financial services is believed to support the common good.
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All forms of selfishness must be embraced to achieve economic success.
All forms of selfishness must be embraced to achieve economic success.
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Sharing the dignity of all human beings requires a sense of belonging to the human family.
Sharing the dignity of all human beings requires a sense of belonging to the human family.
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Financial transactions concerning the production of goods are essential for the common good.
Financial transactions concerning the production of goods are essential for the common good.
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Economic crises can be avoided by embracing the logic of the global common good.
Economic crises can be avoided by embracing the logic of the global common good.
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Study Notes
Catholic Social Thought (CST) and Global Financial Systems
- CST emphasizes a strong ethical and legal framework to regulate economic systems, rejecting unregulated liberalism.
- An unfettered market poses dangers to human dignity, community, world equilibrium, and peace.
- Growing economic inequality between and among individuals and nations undermines solidarity.
- Individualism and utilitarianism can undermine the common good.
- Ethical solidarity is crucial, emphasizing the common good, common dignity, and global community.
- CST calls for a world political authority to deal with global issues, reforming international financial systems.
- Respecting subsidiarity, any global authority should support regional and national institutions.
- The global financial crisis necessitates reform of financial institutions, including financial transaction taxes, to generate development revenue and a global reserve fund.
- Recalibration of banks should promote real economic development over financial transactions.
- The economy must prioritize the common good of all people, respecting human dignity, with the human person at its centre.
- A triple responsibility exists for a nation, the world, and future generations, distinguishing CST from free market ideologies.
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Description
Explore the principles of Catholic Social Thought (CST) as they relate to global financial systems. This quiz examines the ethical considerations and structural reforms necessary to promote justice and solidarity in the economy, addressing issues like economic inequality and the need for global authorities. Understand the implications of CST in navigating today's financial crises.
