February 8, 2012

The Vatican vs. Global Finance

Samuel Gregg, Foreign Affairs

AP Photo

Last October, a bold proposal to reform the global financial system came from an unexpected source: the Catholic Church. As the eurozone teetered on the brink of economic chaos, the Pontifical Council for Justice and Peace -- a body of the Roman Curia that advises the pope on economic justice, peace, and human rights -- issued "Towards Reforming the International Financial and Monetary Systems in the Context of Global Public Authority" (more simply called the "Note"). The Council's goal in publishing it was explicit: the Church wanted to attract the attention of world leaders as they assembled to discuss ongoing turmoil in financial markets at the G-20 Summit in Cannes and to add its voice to those arguing for capital controls (such as the "Tobin tax") to discourage international...

Read Full Article ››

TAGGED: Catholic Church, Vatican, global economy

RECOMMENDED ARTICLES

January 29, 2012
How the Church Learned to Live With Castros
Juan Tamayo, Miami Hld
Pope Benedict XVI will find a much warmer atmosphere when he visits Cuba March 26-28 to mark the 400th anniversary of the discovery of the Our Lady of Charity statue at El Cobre, the island's patron saint. more ››
February 1, 2012
Return of the Brain-Drain Panic
Jagdish Bhagwati, The American Interest
While developed countries are angst-ridden over mostly illegal immigration by unskilled workers from developing countries, a different set of concerns has surfaced in Africa, in particular, over the legal outflow of skilled, and... more ››
February 7, 2012
A World Divided or Coming Together?
Oxford Research Group
The International Monetary Fund (IMF) warning of a possible world recession came in parallel with fears expressed at the World Economic Forum (WEF) in Davos about the spread of protests across the world. Given that Oxford... more ››
January 28, 2012
Forget Austerity, Reinvent Capitalism
James Downey, Irish Independent
YOU remember Peter Mandelson. Who could forget him? Secretary of state for Northern Ireland, serial survivor of controversies and comebacks, arguably the man who invented Blairism before most of us had heard of Tony Blair. more ››
January 28, 2012
West Poised to Rewrite Capitalism
Alan Philps, The National
It has been many years since the word capitalism was on so many lips. For the past two decades capitalism seemed to be part of life, and raising the slogan "down with capitalism" was as bizarre as calling for the abolition of... more ››