In Pope Benedict’s new social encyclical, the world economy takes centre-stage.
Benedict addresses government stimulus plans: “I would like to remind everyone, especially governments engaged in boosting the world’s economic and social assets, that the primary capital to be safeguarded and valued is man, the human person in his or her integrity: Man is the source, the focus and the aim of all economic and social life.” as well as the “source of the global economic crisis”:
The current economic crisis was created primarily in and by the private sector, and states are challenged in their abilities to respond. Markets are global, but governance is national and local. Rich and poor countries alike are cutting State social safety nets, with more families falling through the holes. Trade unions are also more limited in their abilities to protect workers. And religious freedom is endangered, not just by authoritarian persecution but also by developed countries that do not believe religious voices have a constructive place in the public square. Therefore we have to engage in new ways, through civil society, greater corporate moral codes of conduct and truth telling, creative government collaboration, and by creating new international institutions.
The encyclical titled “Charity in Truth” in essence, rejects capitalism without boundaries as well as unregulated markets, which according to Benedict have led to “thoroughly destructive” abuse of the system.
The encyclical was addressed not just to Catholics but also to “all people of good will” and was released on the eve of the beginning of the G8 summit in Italy and three days before the Pope is due to discuss the global downturn with U.S. President Barack Obama.
Related news articles:
