Pope Francis praises co-operative model as a provider of productive economy | Division for Inclusive Social Development (DISD)

On 8 July in Santa Cruz, Bolivia Pope Francis spoke to crowds about co-operatives providing productive economies for the poor. This speech was given before 2,000 social activists, farmers, trash workers, and neighborhood activists and the purpose was to promote understanding that change must come from grass-roots.

Pope Francis defined the economic challenge of this era as a failure of global capitalism to create fairness, equity, and dignified livelihoods of the poor. Francis's criticism stems from the fact that much of humanity has never been so wealthy or well fed yet inequality is continually rising. This surge of rising inequality leads to repeated financial crises and a malnutrition dominating communities.

Co-operatives are historically known as enterprises that serve the common good and promote equality. Francis said that they are "enterprises based on the principle of solidarity and social relations," that act as "the lever that raises and develops the weakest part of local communities and civil society," and provide "new welfare solutions" that support, facilitate and even encourage family life, because "money if it is well-managed, can be used to promote the common good."

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