Pope Preparing to Issue Encyclical Calling for Ethical Economy

Jul 6th, 2009 • Posted in: News

Move comes as world leaders gather for G-8 economic summit; Pope has urged conveners to “reform the international financial architecture” so that poor do not bear the brunt of an economic collapse they did not cause

THE VATICAN
Pope Benedict XVI reportedly is preparing to issue an encyclical advocating an ethical economy. Vatican Radio reports that the encyclical — a major teaching for Catholic believers — was written in preparation for the upcoming G-8 Summit, a meeting of the leaders of the most powerful nations in the Northern Hemisphere.

USA Today reports that the moral aspects of the global economy have been a recurring theme of this pope. In March, he told reporters that “a fundamental element” of the worldwide economic crisis “is precisely a lack of ethics in financial structures; it has been understood that ethics are not something ‘outside’ the economy but ‘inside’ it, and the economy does not work if it does not contain the ethical component.”

In a letter to the Italian premier who will chair this week’s G-8 summit, the pope called on leaders to “reform the international financial architecture” to avoid reckless speculation and ensure that the poor do not bear the brunt of an economic crisis they did not cause, reports the Associated Press.

The pope and President Obama are scheduled to meet briefly at the conclusion of the G-8 summit. According to TIME magazine, the two leaders share some views on foreign policy but clash on ethical issues such as abortion rights and stem cell research.

Sources: TIME, July 5 — AP, July 5 — Vatican Radio, July 4 — USA Today, July 2.

For more information, see: Related Newsline story, Mar. 23 — Related Newsline story, Apr. 6 — Related Newsline story, Dec. 22, 2008 — Related Newsline story, Dec. 15, 2008 — Related Newsline story, Oct. 20, 2008.

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2 Responses »

1. Ethics Newsline® » News » As G8 Summit Begins, Pope Calls for New Ethical Dimension in Capitalism on July 13th, 2009 at 6:47 pm:

   [...] more information, see: Related Newsline Research Report, July 13 — Related Newsline story, July 6 — Related Newsline story, Apr. 6 — Related Newsline story, Mar. 23 [...]

2. Ethics Newsline® » News » Commentators Weigh In on Papal Business-Ethics Encyclical on July 21st, 2009 at 12:34 pm:

   [...] Related Newsline Research Report, July 13 — Related Newsline story, July 13 — Related Newsline story, July 6 — Related Newsline story, Apr. 6.  Print This Story  Email This [...]

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