The technocratic paradigm also tends to dominate economic and political life. The economy accepts every advance in technology with a view to profit, without concern for its potentially negative impact on human beings.Laudato Si’, 109
The institutions that structure our economy are ill-equipped to handle the kind of transformation our moment requires.
Consider the corporation, which is afforded the legal right of personhood and yet exists outside of the law. The award-winning documentary The Corporation unpacks numerous examples of corporate greed undermining even basic ethical standards – from the privatization of drinking water in Bolivia to collaboration with Nazi Germany.
The Institute for Multi-Stakeholder Initiative Integrity (MSI Integrity) writes that, “…as long as corporations remain primarily beholden to investors and operate in their current legal and governance frameworks, they will continue to make decisions that harm people and the planet.” Read the summary report of their findings here.
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