Why did CNN News say Barack Obama and the Pope were taking aim at capitalism?
I cannot speak for President Obama but Pope Benedict XVI just released a new encyclical that talks a bit about our current economic problems. Caritatis in Veritate (Charity in Truth) is the Pope’s social encyclical in which he calls for “a profoundly new way of understanding business enterprise” and a global economic system that values the common good above private profits.” Among the many themes that the Pope touches upon in his encyclical are: + the role of a “largely speculative” approach to finance in precipitating the current worldwide economic crisis + the failure of world leaders to cope with the phenomenon of migration– which is often provoked by intolerable situations in undeveloped countries, and aggravated by the failure of host nations to protect the dignity of immigrants + the “unregulated exploitation of earth’s resources” + the importance of understanding that rights are always attached to corresponding duties + the wrongful exploitation of international aid, which “has
