Tuesday, December 17, 2024

The Vatican on the Brink of Bankruptcy: The Missing Piece

During at least its first millennium, Christianity—with the notable exception of Clement of Alexandria—held that greed is tightly coupled to profit-seeking and wealth. Amid the increased trade, and profits, during the Commercial Revolution in the Middle Age in Europe, Aquinas began the trend severing the coupling to allow for greedless moderate profits, and thus wealth. Also in Medieval Europe, the Roman Catholic Church allowed monasteries to have collective wealth (including land) without being subject to having to go through the eye of a needle to enter the Kingdom of God.[1] With it supply of gold and real estate, the Vatican could be considered rich in the twenty-first century. When the exemption for collective wealth justifies those holdings from the stain of greed is one question; here I look at reports in 2024 that the Vatican was on the brink of bankruptcy, and why, for at least in one media report, one major reason is curiously left out even though that reason may have been making all the difference, and may even be considered just, whether in terms of divine or human justice.



1. See my books, Godliness and Greed, and God’s Gold, the latter text reflecting my further thought on the topic, especially on how Christianity can be held off from the increasing susceptibility to greed theologically.