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Others, without these advantages, are not so fortunate. Federal Reserve Chairman Ben Bernanke also warned of problems stemming from economic inequality. 6 to the Greater Omaha Chamber of Commerce in Nebraska, Bernanke defended the idea that the free market does not guarantee an equality of economic outcomes, allowing as it does the possibility for unequal rewards due to differences in effort and skill.
While not forgetting the benefits of globalization for many millions of people, the Wall Street Journal also expressed concern that the growing inequalities could provoke a backlash that would damage trade and investment. Slipping down the ladder "That said, we also believe that no one should be allowed to slip too far down the economic ladder, especially for reasons beyond his or her control," he added in the text posted on the Federal Reserve Board site.
The Pope also dealt briefly with the theme of globalization.
This is a phenomenon, he commented, that gives hope of a wider participation in economic development and riches.
Work, he explained, is part of God's plan for humanity and through it we participate in the work of creation and redemption.
We will live this better, the Pope urged, if we remain united to Christ through prayer and sacramental life.
The pursuit of justice and the promotion of the civilization of love, the message stated, are essential aspects of the Church's mission in its proclamation of the Gospel.
Justice and love cannot be separated, the Pope observed, because of the Church's experience of how the two were united in "the revelation of God's infinite justice and mercy in Jesus Christ." Justice, he continued, must be "corrected" by love, a love which inspires justice and purifies our efforts to build a better society.
On May 26 he spoke to a group of young people from Confindustria, the General Confederation of Italian Industry.The Pontiff also had words for those directing workers, in an address to a group from the Italian group, the Christian Union of Business Executives on March 4.Justice and charity, the Pope said, are inseparable elements in the social commitment of Christians.Proposing solutions to this problem involves value judgments beyond the realm of economic theory, Bernanke concluded.He did, however, suggest a range of possible measures, ranging from education and job training, to helping individuals and families bear the cost of economic change, as ways to affront the problem of inequality.