The Church has always favored economic prosperity. However, the Church also insists upon balance as can be seen by this excellent quote from Spanish writer Donoso Cortes.
“Nor is it less absurd to suppose, as some do, that the holy religion which we profess and the Church which contains it and preaches it either detain or look with dismay on the free expansion of public wealth, good solutions to economic questions, and the increase of material interests, because, while it is certain that the religion does not propose to make peoples powerful, but blessed, nor to make men rich, but holy, it is no less than one of its noble and great teachings which consists in having revealed to man his providential charge to transform all of Nature and to put it at his service by means of his work.
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“What the Church seeks is a certain equilibrium between material, moral, and religious interests; what it seeks in this equilibrium is that every thing be in its place and that there be a place for all things; what it seeks, finally, is that the first place be occupied by moral and religious interests and that material ones come after.
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“And this not only because the most fundamental notions of order require it to be so, but also because reason tells us, and History teaches us, that this preponderance, the necessary condition for that equilibrium, is the only one that can exorcise, and does so with certainty, the grand catastrophes that are always ready to arise where the preponderance or growth exclusively of material interests causes great concupiscences to ferment.”
(From Donoso Cortes’ “Letter to Cardinal Fornari,” 1851)