Pope condemns capitalism’s ‘failures’

[Joanne98]

Pope Benedict XVI on Tuesday condemned the “grave deviations and failures” of capitalism exposed by the financial crisis and issued a strong call for a “true world political authority” to oversee a return to ethics in the global economy.

The pontiff’s call for stronger government regulation was made in his third and eagerly awaited encyclical, Charity in Truth, which the Vatican chose to issue on the eve of the G8 summit of rich nations being held in Italy.


His attack on unbridled capitalism and unregulated market forces was also accompanied by a strong critique of some international aid agencies, which he accused of encouraging abortion, sterilisation and imposing contraception. The pontiff, elected to the papacy in 2005, stirred controversy on his first visit to Africa in March when he said that use of condoms exacerbated the Aids crisis.

While the pontiff’s call for a new political authority is unlikely to go down well with the G8 heads of government, his plea for financiers in particular to refocus on ethics will be reflected in a G8 communiqué bearing the imprint of Italy and Germany in their push for stronger and more co-ordinated “global standards”.

http://www.ft.com/cms/s/0/cc9150d0-6af4-11de-861d-00144feabdc0.html?nclick_check=1

[YOY]

1. He didn't condemn "capitalism" but "unbridled capitalism" according to the story.

Something I condemn on a daily basis.

If there are no regulations and they have easy access to governmental decision makers to deregulate things it's going to create that rope that hangs them. It has already actually.

[47of74]

2. Republicans love the guy when he gets on his high horse about abortion

But ignore him when he talks about the destructive effects of unbridled capitalism.

[thunder rising]

3. Wow, he must have checked his weather vane yesterday. Capricious? Just a little?

[Recursion]

4. You think so?

I don't agree with a lot of the church's stances but as far as I can see they're pretty consistent.

[YOY]

6. They are not as steriotypically "right" or "left"/"good" or "evil" as many would think.

They are as anti-war as they are anti-choice at times. They don't really change stances too much and when they do it is a big hub-bub.

Gotta give them credit for consistancy.

[Curtland1015]

5. Says the guy living in the giant golden castle...

I'm not saying he's WRONG (I actually agree with him), but still and all... easy for him to say.

[noamnety]

7. You have a problem

with the man sitting on the most riches in the world proclaiming that others aren't doing capitalism right? ;)

[Curtland1015]

8. Crazy, right?

:P

[FarCenter]

9. We need a leveraged buyout firm to unlock the value of those assets!

[WI_DEM]

10. Lead by example, your holiness. Let the Vatican give up some of its richest to help the poorest.

[noamnety]

11. He can't do that.

He needs all his money to keep influencing aid agencies to deny medical care to women.

[HOLOS]

12. Let's Discuss History of the Papacy and It's....