This is a great article.
The best thing we can do for the unemployed is cut through government red tape and deregulate.
In the Third World, they need more free enterprise and expertise to tap their resources.
So we can have more of this?
Didn’t you read Pope Francis the other day?
I’m not sure if you are replying to the article in the original post or to SuperLuigi.
One of the commenters on the article (in the original link) said that the Pope was stating a moral principle, and not suggesting a political solution. I think that was a good statement.
Benedikt also warned of the dangers of un-regulated/un-bridled Capitalism.
“Even The Pope Believes We Need Stronger Financial Regulation And Reform”
You may add the Holy Father as the latest outspoken advocate for reforming and strengthening regulations in the world’s capital markets.
Pope Benedict XVI, dressed in flowing white robes and speaking from a 17th century altar—a tall, gilded canopy that sits above the ancient grave of St. Peter—decried what he sees as a manipulation of the world’s poor. “The world is sadly marked by hotbeds of tension and conflict caused by growing instances of inequality between rich and poor,” the pope said, “by the prevalence of a selfish and individualistic mindset which also finds expression in an unregulated financial capitalism.”
The remarks came in the pope’s New Year’s Eve Mass, in which the 85-year-old pontiff implored congregants to opt for peace in the upcoming year. ”A new year is like a trip. With the light and the grace of God, may it be the start of a path to peace for every person, every family, every country and for the entire world,” Benedict XVI said after the homily, from a window overlooking St. Peter’s Square.
So, the pope joins a list of other influential world leaders who support increased financial oversight. If you consider the year we just had, it’s not too great a surprise that the leader of the world’s 1.2 billion Roman Catholics made this comment. 2012 brought a 12-month span in which major banks like UBS and Barclays admitted to manipulating key interests rates that dictate the prices of many prosaic financial items, and HSBC admitted to laundering the money of drug kingpins and despots. And we’re not even a decade removed from the financial crisis, where it seemed that institutions of all stripes piled into the sale and securitization of faulty mortgages—the SEC has investigated a number businesses, from Goldman Sachs to Bank of America.
First the SEC, and now the Holy See would like the world’s bankers to behave better. forbes.com/sites/abrambrown/2013/01/01/even-the-pope-believes-in-reforming-capitalism-and-finance/
I quoted the full article since Forbes requires a subscription.
Good luck in trying to keep politics out of it.
I have erred in the past by giving more weight to my conservative American cultural biases than to Church Teaching. I had been unaware of many of the Teachings and only noticed liberal/leftist orientations from Catholics who would advocate for contraception, abortion, women priests, and vote for the wrong political party. I always thought them screwballs in error, and outside Magisterial Teaching. When Pope John Paul the Great admonished President George W. Bush for instigating the war in Iraq, I was in quandary. I decided, mistakenly, to ignore my Pope in favor of regional government decisions, at least so far as this issue was concerned.
I have since re-examined my thought processes and realize my ignorance and unexamined opinions made me culpable in some abuses of capitalism and ‘national self interests’ when those are pursued at the expense of grievous wrongs.
I am now listening because my Church seems to be speaking more clearly on Catholic fundamentals and how we are to treat one another whether one on one, business to business or nation to nation; at all times and venues, we must be advocates of His kingdom. I must have a greater mindset to The Vicar of Christ than my own political orientations, some orientations acquired through a process more similar to osmosis than informed thought.
Good for you. I knew something was wrong while at work many of us were actually cheering every bomb attack we saw on TV the first day of Shock and Awe. I couldn’t believe my ears when I heard this.