Skip to content

Religious orders NEED to understand economics

By Catholic Online (NEWS CONSORTIUM)
8/6/2014 (3 years ago)
Catholic Online (www.catholic.org)

New letter from Catholic officials outlines financial understanding

In a letter addressed to members of religious communities, Vatican officials requested that these groups should not be ignorant of economic realities connected to community life and a mission of serving the world in the name of the Church.

A letter from two high-ranking Catholic officials requests that religious orders gain a better understanding of finance and economics.

A letter from two high-ranking Catholic officials requests that religious orders gain a better understanding of finance and economics.

Highlights

By Catholic Online (NEWS CONSORTIUM)
Catholic Online (www.catholic.org)
8/6/2014 (3 years ago)

Published in Business & Economics

Keywords: Vatican, International, Finance


LOS ANGELES, CA (Catholic Online) - "Gratuity, fraternity and justice" are the basic principles essential to "an evangelical economy of sharing and communion," said the prefect and secretary of the Congregation for Institutes of Consecrated Life and Societies of Apostolic Life.

Be a light in the darkness: fight world hunger through "prayer and action."

The circular letter was published by prefect Cardinal Joao Braz de Aviz and secretary Archbishop Jose Rodriguez Carballo, and covered the use of financial resources by religious orders, recommending that these communities adopt modern budgeting and bookkeeping practices to ensure that their expenditures are for ministries in line with their purpose and the good of the Church.

"All members of the institute should be aware of the importance of working with a budget and estimates in the knowledge that these reflects the values and spirit of the institute," the letter said.

Because the needs of the Church and society change, every religious order must "define which works and activities to pursue, which to eliminate or modify," and how to develop these changes.

Each order is required by Church law to have a treasurer that should be trained in budgeting and bookkeeping. The letter suggests that every member have some basic understanding because giving financial information to just one person "generated lack of interest about economics within the community, leading to a loss of contact."

This letter was followed up by a symposium held in Rome in March 2014.

Aviz spoke about the problems facing religious understanding of economics. "We live in a culture that considers capitalism to be the law that governs the use of money," he said.

"For religious, it should not be this way. It is the Gospel that must prevail."

---


'Help give every student and teacher Free resources for a world-class moral Catholic education'


Copyright 2017 - Distributed by THE CALIFORNIA NETWORK

Pope Francis Prayer Intentions for OCTOBER 2017
Workers and the Unemployed.
That all workers may receive respect and protection of their rights, and that the unemployed may receive the opportunity to contribute to the common good.


Comments


More Business & Economics

Is now the time to sell? Experts say Wall Street is on a bubble, here's why Watch

Image of Stocks appear to be on a bubble according to many experts.

Is now the time to sell on Wall Street? Stocks are on a bubble, according to multiple analysis and expert opinions. Fundamental market ... continue reading


Forget Winter, Recession is Coming Watch

Image of Major indicators reveal recession is coming.

The economy is about to go into recession according to several Wall Street firms. They are warning investors to prepare for an end to the ... continue reading


Get ready for self checkout everywhere: 3.5 million retail cashiers are about to be replaced by automation Watch

Image of Retail cashiers often loathe self checkout stands. However, both cashiers and self checkout stands are facing replacement as new technologies threaten to eliminate the checkout process.

Automation is coming soon to a store near you as retailers look for ways to cut costs and improve profits. The best way to accomplish this ... continue reading


'Budgets are moral documents'

Image of

The highly relevant quote, "Budgets are moral documents," has been arguably attributed to Rev. Martin Luther King, Jr. But if he didn't ... continue reading


Central bankers warn of looming global recession Watch

Image of A recession could be lurking around the corner and central banks have been asked to take note, especially in Asia.

A group of central bankers has warned that a great recession, possibly larger than the 2007-2008 recession is looming on a global scale. ... continue reading


Never Miss any Updates!

Stay up to date with the latest news, information, and special offers.

Information
Learn about Catholic world

Catholic Online
Inform - Inspire - Ignite

Catholic Online Saints
Your saints explained

Catholic Online Prayers
Prayers for every need

Catholic Online Bible
Complete bible online

Catholic Online News
Your news Catholic eye

Daily Reading
Today's bible reading

Lent / Easter
Death & resurrection of Jesus

Advent / Christmas
Birth of Jesus

Rest of Catholic Online
All Catholic world we offer

Services
Products and services we offer

Catholic Online Shopping
Catholic medals, gifts & books

The California Network
Inspiring streaming service

Advertise on Catholic Online
Your ads on catholic.org

Catholic Online Email
Email with Catholic feel

Catholic Online Singles
Safe, secure Catholic dating

The California Studios
World-class post production service

Education
Learn the Catholic way

Catholic Online School
Free Catholic education for all

Student Classes
K-12 & Adult Education Classes

Catholic Online MasterClass
Learn from experts

School Teachers
Teacher lesson plans & resources

Catholic Media Missionaries
The New Evangelization

Support Free Education
Tax deductible support Free education

Socials
Connect with us online

Catholic Online on Facebook
Catholic social network

Catholic Online on Twitter
Catholic Tweets

Catholic Online on YouTube
Enjoy our videos

Catholic Online on Instagram
Shared Catholic moments

Catholic Online on Pinterest
Catholic ideas style inspiration

Catholic Online Logo

Copyright 2017 Catholic Online. All materials contained on this site, whether written, audible or visual are the exclusive property of Catholic Online and are protected under U.S. and International copyright laws, © Copyright 2017 Catholic Online. Any unauthorized use, without prior written consent of Catholic Online is strictly forbidden and prohibited.