July 8, 2009Pope Urges Forming New World Economic Order to Work for the ‘Common Good’
VATICAN CITY — Pope Benedict XVI on Tuesday called for a radical rethinking of the global economy, criticizing a growing divide between rich and poor and urging the establishment of a “true world political authority” to oversee the economy and work for the “common good.”
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He criticized the current economic system, “where the pernicious effects of sin are evident,” and urged financiers in particular to “rediscover the genuinely ethical foundation of their activity.”
He also called for “greater social responsibility” on the part of business. “Once profit becomes the exclusive goal, if it is produced by improper means and without the common good as its ultimate end, it risks destroying wealth and creating poverty,” Benedict wrote in his new encyclical, which the Vatican released on Tuesday.
More than two years in the making, “Caritas in Veritate,” or “Charity in Truth,” is Benedict’s third encyclical since he became pope in 2005. Filled with terms like “globalization,” “market economy,” “outsourcing,” “labor unions” and “alternative energy,” it is not surprising that the Italian media reported that the Vatican was having difficulty translating the 144-page document into Latin.
Reportedly delayed to take into consideration the financial crisis, it was released by the Vatican on the eve of the Group of 8 industrialized nations summit meeting, which opens in Italy on Wednesday, and before Benedict is expected to receive President Obama at the Vatican on Friday.
“It’s not an encyclical done for the crisis,” Cardinal Renato Martino, the president of the Vatican’s Council for Justice and Peace, said at a news conference on Tuesday. Still, he added, “if the encyclical had come out before the crisis, you would have said it was prophetic.”
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