Catholic World News

Economic systems based on greed will always collapse, Pope says

March 02, 2009

During a meeting with priests of the Rome diocese on February 27, Pope Benedict XVI said that the Church should speak clearly on the moral principles that underlie economic activity. The Holy Father made that point in explaining why his encyclical on social teaching has been postponed. He said that the document must respond to the urgent need for guidance on issues raised by the current worldwide economic crisis. The encyclical, he said, will teach that a system based upon greed will inevitably fail. He added that economic reform programs will not succeed unless people are guided by a sense of solidarity.

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