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Tuesday, July 7, 2009

Poponomics: Charity and Truth

Pope Benedict XVI criticized the world's economic systems today and called for a new global structure based on social responsibility, concern for the dignity of the worker and a respect for ethics.

"Today's international economic scene, marked by grave deviations and failures, requires a profoundly new way of understanding human enterprise," Benedict wrote in his latest encyclical, which is the most authoritative document a pope can issue. "Without doubt, one of the greatest risks for business is that they are almost exclusively answerable to their investors, thereby limited in their social value."

In the sweeping document, Benedict denounced the private sector and blamed "badly managed and largely speculative financial dealing" for causing the current economic meltdown. He said that the primary capital to be safeguarded is people, and cautioned that economic systems need to be guided by charity and truth.

link: Pope Calls for New Economic Structure -


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