In his newly released encyclical 'Caritas et Veritate' Pope Benedict calls for a renewal of the global financial order based on "an ethics which is people centred" with the goal of common good, in his newly released encyclical.
The underscores the "need for a system with three subjects: the market, the State and civil society," to "civilising of the economy", the Vatican Information Service said, quoting from the text.
The encyclical is Benedict's third. Filled with terms like "globalisation," "market economy," "outsourcing," "labour unions" and "alternative energy," the New York Times reported, "it is not surprising that the Italian media reported that the Vatican was having difficulty translating the 144 page document into Latin."
"The economy needs ethics in order to function correctly; not any ethics, but an ethics which is people centered," the Pope says.
Cardinal Renato Martino, the president of the Vatican's Council for Justice and Peace, in his reference to the encyclical said that "The political ideologies that characterised the period prior to 1989 seem to have lost their virulence, but have been replaced by the new ideology of technology". He added that "Various aspects of globalisation have been accentuated, due on the one hand to the fact that there are no longer two opposing power blocs and, on the other, to the worldwide computer network. ... Religions have returned to the centre of the world stage. ... Certain large countries have emerged from a situation of backwardness, notably changing the world geopolitical balance. ... The problem of international governance remains vital. T
Continuing on the motivation for the encyclical, Cardinal Martino said that "these great novelties ... would be enough by themselves to motivate the writing of a new social Encyclical", said the cardinal, "yet there is another reason: ... 'Caritas in veritate' was conceived by the Holy Father as a commemoration of the fortieth anniversary of Paul VI's 'Populorum Progressio'" although the theme of this new Encyclical "is not the 'development of peoples', but 'integral human development'. ... We could say, then, that the perspective of 'Populorum Progressio' has been broadened".
Cardijn Community International welcomes the timely encyclical which furthers the motivation for 'Populorum Progressio' and hopes that the progressive forces within the Church and lay people's organisations will draw strength and inspiration from the encyclical to continue their role as 'agents of change' to build a 'just and green world'.
A new social encyclical (Vatican Information Service)