19 Neither individuals nor nations should regard the possession of more and more goods as the ultimate objective. Every kind of progress is a two-edged sword. It is necessary if man is to grow as a human being; yet it can also enslave him, if he comes to regard it as the supreme good and cannot look beyond it. When this happens, men harden their hearts, shut out others from their minds and gather together solely for reasons of self-interest rather than out of friendship; dissension and disunity follow soon after. Thus the exclusive pursuit of material possessions prevents man's growth as a human being and stands in opposition to his true grandeur. Avarice, in individuals and in nations, is the most obvious form of stultified moral development.
Source: Populorum Progressio (Vatican.va)