Pope urges 'world authority' to govern economy, finance

Pope Benedict XVI is offering a solution for what ails the global economy: a "true world political authority" to manage it all.

In a so-called encyclical published today -- just as leaders of the world’s biggest economies gather in central Italy for a summit -- Benedict mostly focuses on his ideas for achieving "justice and the common good" in the modern economy.

His basic themes are well-traveled, including fairness to workers, the evils of "excessive" wealth disparities and regard for the environment.

But then he ventures onto controversial turf, suggesting that the authority to fix all of this be vested in global governing bodies, including the United Nations.

The pope writes:

In the face of the unrelenting growth of global interdependence, there is a strongly felt need, even in the midst of a global recession, for a reform of the United Nations Organization, and likewise of economic institutions and international finance, so that the concept of the family of nations can acquire real teeth.

To manage the global economy; to revive economies hit by the crisis; to avoid any deterioration of the present crisis and the greater imbalances that would result; to bring about integral and timely disarmament, food security and peace; to guarantee the protection of the environment and to regulate migration: for all this, there is urgent need of a true world political authority, as my predecessor Blessed John XXIII indicated some years ago.

Such an authority would need to be regulated by law, to observe consistently the principles of subsidiarity and solidarity, to seek to establish the common good, and to make a commitment to securing authentic integral human development inspired by the values of charity in truth.

Many of Benedict’s ideas might have been viewed as roadblocks to progress during the global economy’s boom years, but his message no doubt will resonate today with many people worldwide who believe that unbridled capitalism has been ruinous.

He has choice words for the world’s financiers:

Finance, therefore -- through the renewed structures and operating methods that have to be designed after its misuse, which wreaked such havoc on the real economy -- now needs to go back to being an instrument directed towards improved wealth creation and development. Insofar as they are instruments, the entire economy and finance, not just certain sectors, must be used in an ethical way so as to create suitable conditions for human development and for the development of peoples.

Financiers must rediscover the genuinely ethical foundation of their activity, so as not to abuse the sophisticated instruments which can serve to betray the interests of savers.

-- Tom Petruno

Photo: Pope Benedict XVI. Credit: Pier Paolo Cito / Associated Press

Comments

[Capitalist Pig]

Dang, who woulda thought the Pope and Obama would hook up like a couple high school sweethearts? The pope calling for Bushdaddy's NEW WORLD ORDER and Obama NOT talking about he amnesty for baby killers. Imagine that for irony.......
Two scumbags in one room makes a garbage dump.

[Newsreader]

The Pope is spot on. We need a world financial authority that is accountable to elected officials. The problem is not that we do not have a world financial authority: we have the World Bank and the IMF. The problem is that they are not accountable to anyone but to themselves. There is nothing new in what the Pope is asking for, he simply wants market to be checked by society and culture and not the other way around.

[pugtv]

Comments like the Pope's make me glad there is a separation of Church and State.

[Scott]

This world order stuff sounds like the coming of the anti-christ. Obamma seams to fit the description.

[Terry Canuck]

Don't miss the point that is unspoken. We are all tenants here for a short time, and wealth can best be used to take care of those less fortunate. To think you deserve wealth is simply ignorance; and true ignorance in this case is bliss!

However, wealth without acceptance of responsibility associated with the benefits of wealth to those less fortunate, is truly a waste of wealth.

If you don't improve the life of others, then your life is meaningless - that simply. Wealth provides the best means of improving the lives of others, and making a difference. You can't take it with you.

The saying is whoever has the most toys at the end is the winner is almost right. But it really is whoever GIVES the most toys at the end is the winner.

His message is simple - make a difference while you are above ground.

[Jason]

Thats exactly what we need. A completely unaccountable international body responsible for overseeing everything. I thought that our national unaccountable body, the Federal Reserve, is doing such a great job that we should create something newer and more powerful.

What these retards don't seem to get is that "the economy" is us. And the more control we give to regulate the economy, the more regulation we are going to get in our personal lives.

The last time a German proposed world government it didn't work out so well. Maybe his Popeness should get back to telling Africans not to use rubbers or something and stay out of macro economics.

The real answer would be to stop stealing the peoples money to give to corporations that are running the planet into the ground and let the economy tank and then rebuild itself. Blaming capitalism isnt the answer, we don't have capitalism, we have a 'mixed market' economy, and the mix is the problem. In capitalism, when someone gets greedy and messes up their company, the company goes away. We arent letting that happen, and it needs to.

[James Torguson]

BUT, what does the Taliban say? The Wicas? The Mormons?

If you are going to publish what the leader of one religion, that most of us DO NOT belong to, has to say, why not publish the rest?

btw,,, The Pope and politics! Does this mean we can start charging the same property taxes on "church property" that we charge on bank buildings. The banks also seem to think they know the economy should run. The only difference I can see is that at least some of the bankers actually studied economics. (we hope)

[martscan]

Capitalist Pig:

You needn't utter any of your horrific, scurrilous remarks at undeserving targets in this forum. Your sobriquet says all that anyone needs to know about your ethnicity and attitude.

[Kalihari]

"Scott" said that Obama seems to fit the description of the Anti-Christ. What about the Pope (as a position, not the man)? All the reformists that started the Protestant movement claimed the position as such. And the Bible says that he'll seek to change times and laws. I would assume it references biblical times and laws, not those of man. The Catholic Catechism has it recorded that they "changed" the Sabbath to Sunday, though no scripture supports this change. So they have a changing of both a time and a law with this one item. The Bible also states that there will not be a world government again. There will be attempts, but they will fail to be fully effective.

[Toahola]

The Pope should stick his nose to his Bible and running Mass....

[Partsisparts]

"Excuse me, Mr. Pope but...what does this have to do with Christianity?!"

Jesus was not a banker. Luke 12:13-14 says "Then a [man in the] crowd said to him: “Teacher, tell my brother to divide the inheritance with me!” [Jesus] said to him: “Man, who appointed me judge or apportioner over you persons?”"

Jesus didn't want to get involved in even ONE person's financial matters. How much less would Jesus and his followers involve themselves in global financial matters. As if it would make a particle of difference anyway.

[Nelcisco]

For years I've heard about the Pope and his connection to Revelation.I'm talking about the Papacy not Pope Benedict, he's just a pond fulfilling prophacy.His title in Latin stands for the "Vicar of God" or Christ on Earth
which is blasphemy in scipture, but the Pope is the only PERSON (not God)
who's bigger and can attract more influence than Michael Jackson. And if man can't buy or sell unless they take the "Mark Of The Beast" then a religeous power will need to get involved in the global economy, which makes sense now than lets say 20 yrs ago how some anti-Christ can pull this off on a global scale.

Go to Kalihari's comments refering to Rome's change of the Sabbath from
Sabbath to Sunday, that will show the authority of Rome and if they can shake down the world economic boycott....whew

[Kramer]

Wow, hearing the pope say things like this reminds me of the book I just read called "tragedy and hope" by Carroll Quigley. Quigley writes about the connections between communism, the CFR, JP Morgan, and others, about the move for a global government and that one of the plans a this group he mentions is to bring all of the "backwards" people from places like Latin American and Africa into a modern lifestyle.

Well, I can see the workings of improving the lives of "backwards" people being done through AGW, there is plenty of talk in academia and other areas about global governance. And now we have the Pope calling for such an organization and he's mentioning the issues of these people. I wouldn't be surprised if he was put in power by this group that Quigley mentions.