The Old Man and the C-note | Sojourners

The Old Man and the C-note

102-year-old priest Arturo Paoli is perhaps the most important economist you've never heard of.

IN THE LARGEST currency change that the world has ever seen, the euro was launched on New Year’s Day 2002 with great excitement and ceremony in 12 eurozone member countries. At the time, the shared currency was considered to be a vehicle for tying together separate states and cultures with numerous economic benefits, particularly to trade, employment, and tourism.

Now imagine a humble, 90-year-old Catholic priest, vibrant yet shrunken and bent with age. In Italian, he addresses a group about the euro in the celebratory year of its launch. In one hand he holds up an unconsecrated host; in the other, a one-euro coin. They are the same shape, and nearly the same size. But the coin is shiny silver and gold. The priest speaks simply and directly about how, despite their similar appearance and promise of life enrichment, the euro is deceptive. The dominance of finance and capitalism that it supports is a false idol, he says, which leads to addiction.

This story was recounted by a number of Italian press outlets at the time. It contributes to the mythos of this man who writes extensively about the Eucharist, which he believes, in contrast to the euro, creates a relationship not just with God but with our fellow human beings.

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