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The Pope's Encyclical — Charity in Truth
Pope and cardinals
Comment
July 7, 2009

"The economy needs ethics in order to function correctly -- not any ethics, but an ethics which is people centered."- Pope Benedict XVI

In the JOURNAL's July 3, 2009 broadcast on matters of faith and social justice, Bill Moyers referred to the "the radical message we anticipate hearing in a few days when Pope Benedict releases a major encyclical." The Encyclical Letter Caritas in Veritate (Charity in Truth) was released on July 7, 2009, timed to make its debut just as the summit of the G8 industrialized nations begins in Italy.

The Pope's statement made headlines around the world in part because of its extremely topical content: UPI announced the release with: "Pope: Greed, selfishness caused crisis." Even the business magazine FORBES excerpted passages related to profit motives soon after the release:

'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. Right intention, transparency, and the search for positive results are mutually compatible and must never be detached from one another.'
The encyclical, the third of Benedict's pontificate, stresses the need for ethical considerations in the world economy, and argues that poorer countries need more input in international policy. The online Catholic Encyclopedia notes that, "As for the binding force of these documents it is generally admitted that the mere fact that the pope should have given to any of his utterances the form of an encyclical does not necessarily constitute it an ex-cathedra pronouncement and invest it with infallible authority."

But invested with infallible authority or not — this encyclical is being analyzed around the world. Explore more below:

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>Pope Benedict XVI's Encyclical Caritas in Veritate (Charity in Truth)

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