Father Kevin Barr is a Catholic priest. This is his take* on the extreme capitalism practicised by multi-national mining, oil and logging corporations operating in PNG and preached to us by the World Bank and the governments of the USA, Europe and Australia. 

The current economic system of neo-liberalism or extreme capitalism has a fanatical fundamentalism about it.

It encourages not just legitimate profit but excessive greed and individualism.

It seeks to produce ever more money for those with the most wealth - with no limit or regulations.

Powerful and wealthy elites use their power and wealth to structure the economic system for their own narrow self-interest.

Individual greed and corporate profit rule the world of business.

Governments bow to the powerful lobbies of big corporations and rich elites.

In such a society the poor get left behind unless governments deliberately recognize the demands for social justice and set in place policies which will moderate extreme capitalism and make sure wealth is redistributed so that all benefit - not just a few.

The greatest obstacle to the removal of poverty and inequality is the sheer selfishness of the rich in clinging to a system which they know benefits them and disadvantages the poor.

Slums [settlements] have grown because governments have tended to abdicate responsibility for the poor and rule in the interests of local elites and those with wealth.

Most slum dwellers are forced to provide cheap labour in the formal economy or to work in the informal sector where conditions are harsh.

Societies which have a high degree of inequality - a large gap between the rich and poor - are bad for everyone.

The greater the inequality in society, the greater are the social and health problems as well as the crime rates.

Rather than placing blame for the social and health problems in society on the failures of parents, religion, education or the penal system the scale of inequality we have allowed in our society is really to blame.

If we want better, more functional societies with less social and health problems it is in our interest to work for greater equality in society. This means opposing the extremes of neo-liberalism or exploitative capitalism which institutionalize greed and inequality.

* Adapted from: WAGES IN THE BIBLE and Christian Social Teaching by: Kevin J. Barr 2011