'Where human lives are concerned, time is always short: yet the world has witnessed the vast resources that governments can draw upon to rescue financial institutions deemed 'too big to fail'. Surely the integral human development of the world's peoples is no less important: here is an enterprise, worthy of the world's attention that is truly 'too big to fail'.'
This message from Pope Benedict XVI last year in London bears reflection today, as Commonwealth leaders prepare for the Commonwealth Heads of Government Meeting (CHOGM) in Perth.
Every two years they meet to discuss global and Commonwealth issues, and to agree on collective policies and initiatives. Following this meeting Julia Gillard and five other Commonwealth heads of state will travel to France for the G20 leader's summit.
Efforts of development agencies like Caritas Australia have transformed the situation of millions of people. However, unbalanced trade rules, debt burdens and a lack of transparency in the global economic realm compound the suffering of people most in need.
Both of these meetings provide an opportunity for leaders to meet, discuss issues affecting the world, and provide a strong, positive pathway for the creation and realisation of a secure and fruitful future for all. However if, 'every economic decision has a moral consequence' then the voice of the most marginalised, those who suffer the most, should be amplified in these discussions.
While public commentary of meetings such as CHOGM focuses on the content of the conversations, there is great value in the conversation itself. Relationships made, strengthened and restored are important, as they assist open, honest and transparent relationships. They provide the foundations for vital, albeit at times difficult, dialogue about human rights and the realisation of human dignity.
At both CHOGM and the G20 meeting the current economic crisis will be at the forefront of conversations. Those conversations must include a discussion of how we can ensure the realisation of authentic human development in the midst of crisis — that is, policies that seek to promote the common good rather than bring wealth to a small segment of the global population.
The common good cannot be reduced to an aggregate of income, wealth or expenditure — it must be centred on the dignity of each individual.
As the Pontifical Council for Justice and Peace recently stated in their note on the reform of the international financial and monetary systems in the context of global public authority:
In this process, the primacy of the spiritual and of ethics needs to be restored and, with them, the primacy of politics — which is responsible for the common good — over the economy and finance. These latter need to be brought back within the boundaries of their real vocation and function ... in consideration of their obvious responsibilities to society, in order to nourish markets and financial institutions which are really at the service of the person, which are capable of responding to the needs of the common good and universal brotherhood, and which transcend all forms of economist stagnation and performative mercantilism.
As leaders come together to discern issues and find solutions there must be space for greater participation. We must embark on a dialogue working towards sustainable development for all. On the basis of this approach, we must find new methods to finance the funding gaps to ensure the achievement of the Millennium Development Goals (MDGs).
New multilateral approaches to public finance may provide the answer. Innovative financing such as the Tobin tax, where a tiny levy would be taken from financial transactions, have the possibility to generate funds which could be used to alleviate suffering across the globe.
The answer may also be found in independent arbitration mechanisms, that prioritise the common good, provide accountability to financing decisions, and ensure debt renegotiation decisions have a legitimate forum that is both transparent and neutral.
CHOGM and the G20 meeting provide opportunities to devise new and sustainable solutions where justice and compassion are the core principles on which economic and political decisions are made. The world's leaders, teachers, parents, media and all who are in a position to inform, educate and inspire communities have a responsibility to bring hope, understanding and solidarity of action.
As stated by the Pontifical Council for Justice and Peace:
[T]he goal of the universal common good with its inescapable demands is waiting on the horizon. Moreover, it is hoped that those in universities and other institutions who educate tomorrow's leadership will work hard to prepare them for their responsibilities to discern the global public good and serve it in a constantly changing world.
Jack de Groot is Chief Executive Officer of Caritas Australia, Secretary to the Australian Catholic Bishops Commission for Justice and Development, and Adjunct Professor, Australian Catholic University. Image courtesty Debbie DeVoe, Catholic Relief Services.