Thursday, July 2, 2009

The Pope as Economist

Pope Benedict XVI’s first social encyclical will be published next week Tuesday. Word is it will be heavy on economics.

Caritas in Veritate (Love in Truth) has been delayed over a year, according to Edward Pentin, because the Pope wasn't happy with the contents. Pentin writes:
Economics, by his own admission, isn’t his strongest field, even though his writings on the subject before he was elected Pope show more than a competent grasp of the subject. He therefore wanted to be sure he and his consultors were going to write something scholarly and accurate.
It appears that Goldman Sachs probably has the Pope snowed. Writes Pentin:
The Pope will highlight that globalization is not an evil in itself, but it cannot be left to self-regulation, according to leaked excerpts reported in the Italian newspaper Corriere della Sera. He will suggest an international agreement to lead the process of globalization, an authority that should be regulated by law and one that should stick coherently to the principles of subsidiarity and solidarity
The only people I have seen in a position to influence the writing of international agreements for globalization are those that have Goldman connections. Heaven, and I mean this sincerely, help us.

1 comment:

  1. Milton Friedman in his book "An Economist's Protest" reprinted one of his old Newsweek columns entitles "Papal Economics". It looks as if there hasn't been any improvement in Vaticanomics since then.