Benedict XVI
Pope Benedict XVI has issued a Papal encyclical that gives the Vatican’s stance on the need to rethink the world economy. The Pope is critical of markets and calls for an international organization to regulate markets world-wide. Why exactly the Pope is weighing in on economic issues is a bit beyond me. Part of it may have to do with the fact that the Vatican is a country too, and the Pope is essentially its elected king. Heads of state have more business opining on global economics than heads of religion.
Another reason is the title of the encyclical, which translates to “Charity in Truth.” Charity is more the purview of the Roman Catholic church, and in the encyclical, the Pope calls for debt forgiveness to poor nations and greater social responsibility on the part of business.
One funny note, is that, apparently, the Vatican is having a difficult time translating the 144-page document into Latin, from the original German in which it was written.
Papal Encyclical: Pope Benedict and the Economy
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