Andrew Abela, 2009 Novak Award recipient from the Acton Institute, offered a business perspective on Pope Benedict XVI’s new social encyclical, Caritas in Veritate, to the Catholic news service Zenit.  In the interview, Abela talked about ways the encyclical could point the way out of the global financial crisis:

Read more on Zenit: Abela on Caritas in Veritate…

In his new encyclical, Caritas in Veritate, Pope Benedict XVI calls for an international political authority, “so that the concept of the family of nations can acquire real teeth.” He tasks it with issues like human rights, ensuring access to necessities including food and water, and managing the global economy. What might an effective international governing body look like?

Read more on International Governance in Caritas in Veritate and The Road to Serfdom…

Recently the Acton Institute dedicated a resource page on its website to Pope Benedict XVI’s new social encyclical, Caritas in Veritate.  The resource page contains blog posts and articles about Caritas in Veritate from policy experts and staff members from the Acton Institute.  Furthermore the resource page will be updated with new content and provide an in-depth analysis on Caritas in Veritate.

Read more on Resource Page on Caritas in Veritate…

Click here for the text of Pope Benedict’s new social encyclical, Caritas in Veritate, and keep checking back here at the Acton PowerBlog for more commentary.

Katherine Jean Lopez of National Review Online interviewed me about the new papal encyclical, Caritas in Veritate, shortly after its release this morning here in Rome:

LOPEZ: Obviously the topic of ethics and the economy resonates with people today. What can a Catholic take away from the new encyclical when it comes to his lost job, the stimulus, or government takeovers?

Read more on NRO: The Truths in Caritas in Veritate…

The official release of Pope Benedict’s social encyclical Caritas in Veritate took place this morning at the Holy See Press Office in Rome.

There were four speakers at the presentation: Cardinal Renato Raffaele Martino, President of the Pontifical Council for Justice and Peace (PCJP), Cardinal Paul Josef Cordes, President of the Pontifical Council Cor Unum, Archbishop Giampaolo Crepaldi, the newly-appointed bishop of Trieste and former Secretary of PCJP, and Professor Stefano Zamagni, Professor of Economics at the University of Bologna and a consultor for PCJP.

Read more on Caritas in Veritate: Highlights from the Vatican Press Conference…

Relativists beware. Whether you like it or not, truth matters – even in the economy. That’s the core message of Pope Benedict XVI’s new social encyclical Caritas in Veritate.

For 2000 years, the Catholic Church has hammered home a trio of presently-unpopular ideas into the humus of human civilization: that there is truth; that it is not simply of the scientific variety; that it is knowable through faith and reason; and that it is not whatever you want or “feel” it to be. Throughout his entire life, Benedict XVI has underscored these themes, precisely because much of the world, including many Christians, has lost sight of their importance.

Read more on Caritas in Veritate: Why Truth Matters…

My commentary on the forthcoming social encyclical was published on National Review Online. Here’s the complete text:

On Tuesday, Pope Benedict XVI will release his first social encyclical, Caritas in Veritate. The pre-release buzz from the Catholic Left on each of his two previous encyclicals has so far proven wrong each time, so the rule should be to wait and see what the pope will actually say.

Each time, with previous encyclicals, we have been told that the pope is preparing to lambaste capitalism and call for state measures to heavily regulate it with an eye to redistributing wealth, cleaning up the environment, controlling consumption, etc. Each time, the final text has demonstrated that the pope’s conversion to progressivist causes has been greatly exaggerated. Invariably, his arguments have been highly sophisticated and have defied easy political categorization.

In advance of Caritas in Veritate, Catholic “progressives” are working themselves into a frenzy of predictions, recommendations, and anathemas — and not one of them, to my knowledge, has seen even an early draft of the encyclical which has been two years in the making.

Will the document draw attention to the weaknesses of Western-style capitalist systems? One hopes so. We might expect the pope to call on market forces to be regulated by moral concerns, within a strong juridical framework, and an exogenous apparatus of standards to curb excesses.

But here is the operative question: In what sense would such a call be a blow against the idea of free economic institutions? The short answer is that it will not be.

There are few advocates of market economics who advocate a complete lack of regulation rightly understood. Every transaction in the marketplace is in fact regulated by contract law, reputation, industry standards, competition, certification and monitoring, and profit and loss systems that reward prudence and punish excess over the long term.

Do these need strengthening? Certainly, and it should be noted that a main force for weakening them is not the market as such, but partisan interventions in the market. Read more on NRO: The Divine Economy…

Pope Benedict XVI’s much anticipated economics encyclical, Caritas in Veritate, is scheduled to be released early next week, according reports. For a good sense of this pope’s thinking on economics, we offer an article the then-Joseph Cardinal Ratzinger presented in 1985 at a symposium in Rome.  The Acton Institute published it under the title “Market Economy and Ethics.”  As indicated by the following quote, the pope believed in integrating morals into economics in order to have sound and successful economic policy:

Read more on Preview: Pope Benedict XVI on the Market Economy and Ethics…

According to the Catholic News Agency, an Italian newspaper claims to have acquired some parts of the upcoming Caritas in Veritate encyclical of Pope Benedict XVI.  Some of the quotes published by Corriere della Sera are claimed to be from the encyclical and align with the predictions that the Pope will be advocating for morality to be the basis of solving our economic crisis. Here is a quote:

Read more on Report: Pope’s New Economics Encyclical Leaked…