Pope Benedict’s new encyclical is not the strident critique of capitalism some were expecting, but it is nonetheless a robust critique of abuses in the global economy, particularly in financial markets. The Pope also highlights the scandalous contrast between the ostentatious wealth and profligacy by richer people and countries, and the acute deprivation of many millions of others. Benedict has written this 30,000-word encyclical, Caritas in Veritate (Charity in Truth http://www.vatican.va/holy_father/benedict_xvi/encyclicals/documents/hf_ben-xvi_enc_20090629_caritas-in-veritate_en.html), commemorating Pope Paul VI’s 1967 encyclical, Development of Peoples, to inject into current debates the Church’s alarm at the injustice inflicted on hundreds of millions of people, and its concern the plight of impoverished peoples will be ignored.
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briefing, commentary, news
Tags: community, firm, global, individual, macro, moral
globescan.com Reported here by: SPMG, 21 April 2009
GlobeScan Chairman Doug Miller commented, Results suggest most people see the global economic system as flawed. He added: The poll also highlights the forgotten crisisí of high food prices that is still having the most negative impact on many peoples lives.
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news
Tags: global, macro
http://www.number10.gov.uk/Page18858 (full transcript)
Kevin Rudd has dramatically escalated his ideological assault on unfettered free markets, warning that they have become ‘worshipped as a god’ with calamitous results for workers and the developing world. The Prime Minister last night said that ‘unrestrained pursuit of self-interest’ had sparked the global recession and smashed public trust in financial markets…
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news
Tags: australia, macro
Britain has become a “brittle” society where even the smallest effect on resources risks bringing the country to its knees, a think tank will warn next week.
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news
Tags: macro, united kingdom