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Tue Jan 1, 2013, 12:27 PM

 

Pope Benedict Slams Capitalism [View all]



Pope Benedict XVI said in his New Year’s peace message today that the world was under threat from unbridled capitalism.

The pope said "hotbeds of tension and confrontation caused by the growing inequality between rich and poor and the prevalence of a selfish and individualistic mentality also expressed by unregulated financial capitalism."

...

Reuters reports that in that message "the Pope called for a new economic model and ethical regulations for markets, saying the global financial crisis was proof that capitalism does not protect the weakest members of society."

The pope said economic models that seek maximum profit and consumption and encourage competition at all costs had failed to look after the basic needs of many and could sow social unrest.

...

http://www.commondreams.org/headline/2013/01/01-4

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JReed Jan 2013 OP
Jackpine Radical Jan 2013 #1
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