Archbishop Bernardito Auza made the comment at an annual meeting of the United Nation's Commission for Social Development Commission, which began on February 3rd and finishes this Friday.
The theme of this meeting is "Rethinking and Strengthening Social Development in the Contemporary World."
Archbishop Bernardito also told the UN's Commission for Social Development yesterday that economic growth is "not a sufficient indicator" of a country's development, because it fails to reflect the poverty experienced by the poorest who live there.
Mr Auza also told the Council that education, healthcare and social safety nets are "primary, not secondary factors" in improving a person's life, and that businesses must "serve the common good" and not just themselves.
He also affirmed the family as "integral" to a person's development, and getting rid of world poverty.
Archbishop Auza said: "Though economic growth has slowed in recent years, millions continue to be lifted out of poverty, particularly in the developing world... however... economic growth has not benefited everyone in society equally. Significant inequalities remain and many of the most vulnerable groups in society have been left behind.
"Investments in education, access to basic health-care services, and the creation of social safety nets are primary, not secondary factors to improving a person's quality of life.
"The market economy does not exist to serve itself, but rather to serve the common good of all society.
"The authentic integral development of the person and the eradication of poverty are achievable only by focusing on the tremendous value of the family to society... The family is society's most natural social safety net."
"In the family, we learn to love and contribute without pay and, unlike in the global economy, every individual has a place."