The Pope on the “grave deviations and failures” of capitalism

Benedict XVI says that the world economic crisis is the direct result of greed and selfishness


On the eve of the G8 summit in Italy, the pontiff issued his third and highly anticipated encyclical, Charity in Truth. The Pope called for a “true world political authority” to “manage the global economy; to revive economies hit by the crisis; to avoid any deterioration of the present crisis and the greater imbalances that would result.” More philosophically, he emphasized that “financiers must rediscover the genuinely ethical foundation of their activity so as to not abuse the sophisticated instruments which can serve to betray the interests of savers.’’ In addition to his comments on market forces, he criticized some international aid agencies for encouraging abortion and the use of contraception.

Financial Times

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The Pope on the “grave deviations and failures” of capitalism

  1. The ethically bankrupt speaking to the ethically bankrupt. Perhaps a Bretton Woods II is needed, with the aim of managing the global economy while ending abortion and contraception.

    Western imperialism with a Catholic flavour. I cannot foresee anything bad coming from that.

  2. Why people "highly anticipate" speeches from a man who preaches modesty and understanding by living in a castle he inherited undemocratically, and continually states that birth control/condoms are an evil is beyond me.

    The fact that the Christianity killed up to 100 million people in the America's, plus the Inquisition, the Crusades, the heresy hunts, etc. And their belief that condoms spread AIDS, insisting that people should abstain from the most pleasurable and beautiful instinct in the human species should right there and then disqualify the Pope about talking about ethics.