Rather than a spiral of production and consumption in view of narrowly-defined human needs, economic life should properly be seen as an exercise of human responsibility, intrinsically oriented towards the promotion of the dignity of the person, the pursuit of the common good and the integral development – political, cultural and spiritual – of individuals, families and societies.

So says the current Pope Benedict XVI at the 16th. Plenary Session of the Pontifical Academy of Social Sciences.

Catholic Social Teaching discussed –