When the Pontifical Council for Justice and Peace needed an expert economist to assist in articulating the “Note” titled Towards Reforming the International Financial and Monetary Systems in the Context of Global Public Authority to feisty journalists at an Oct. 24 Vatican press conference, it called on the University of Rome “Tor Vergata” economics professor, Leonardo Becchetti.
Read more on Rome Economist Helps Explain Vatican ‘Note’ on Financial Reform…
In the Wall Street Journal, Acton Institute President and Co-Founder Rev. Robert A. Sirico looks at the recent “note” on economics released this week by the Vatican. The document, titled “Toward Reforming the International Financial and Monetary Systems in the Context of a Global Public Authority,” was published with an eye toward the upcoming G-20 meeting in Cannes, France, on Nov. 3-4. This 18-page document has, Rev. Sirico observes, “been celebrated by advocates of bigger government the world over.”
Kishore Jayabalan, director of Istituto Acton in Rome, is quoted extensively in a story about the Vatican’s note on economic centralization written by Edward Pentin, a reporter for the National Catholic Register. If you wonder why the Acton Institute is around — why we feel the need to connect your good intentions with sound economics — well, Kishore explains:
Read more on Vatican Roves Far Afield with Central World Bank Idea…
Last summer, Acton’s PovertyCure team traveled to Ghana to meet with its economists and entrepreneurs — the men and women who are helping the country develop. It just so happens that they also met briefly with Peter Cardinal Turkson, president of the Vatican’s Pontifical Council for Peace and Justice and co-author of the note released yesterday that has stirred up a global controversy.
Read more on ‘Central World Bank’ Would Hurt Cardinal Turkson’s Native Ghana…
Samuel Gregg is quoted in today’s New York Times story about the Vatican note calling for a central world bank — he gives the final word on the document. The “politically liberal Catholics” quoted before him reveal that they have missed a crucial distinction in the document produced by the Pontifical Council for Peace and Justice. Gregg, of course has picked up on that distinction; he wrote yesterday:
Read more on Vatican’s Call for Central World Bank: What the Left Misses…
Acton’s director of research Samuel Gregg has provided his reasoned take on the new document from the Pontifical Council for Justice and Peace — it’s up at The Corner. While its diagnosis of the world economy is fairly accurate, the council’s treatment plan is lacking in prudential analysis. Gregg’s disappointment is expressed at the end: “For a church with a long tradition of thinking seriously about finance centuries before anyone had ever heard of John Maynard Keynes or Friedrich Hayek, we can surely do better.”
Read more on Vatican Economic Analysis Incomplete, Says Gregg…
Director of Research Samuel Gregg has written a special report for the American Spectator about Benedict XVI’s upcoming trip to Germany. The recent World Youth Day in Spain may have looked like a bigger challenge for Benedict, but Gregg says that Germany, while its economy looks good, is facing rough seas ahead.
Read more on Samuel Gregg: Pope’s Work Cut out for Him in Germany…
Noted NYU law professor and free-market advocate Richard Epstein has written a provocative piece titled “How is Warren Buffett like the Pope? They are both dead wrong on economics.” Here’s the money quote:
On his flight to World Youth Day in Madrid this morning, Pope Benedict XVI responded to a question about the current economic crisis. Not sure what the question was, but the well-respected Italian Vatican analyst Andrea Tornielli captured the reply. Here’s my quick translation of the Pope’s answer:
Read more on World Youth Day: Pope talks profits and people…
World Youth Day being held in Madrid August 16-21 will be an important opportunity for Pope Benedict XVI to speak regarding Europe’s Christian roots. George Weigel summarized some remarks from the Holy Father to religious and cultural leaders in Zagreb, Croatia. The pope spoke on many important topics including freedom, free society, human rights, and democracy. It is important to note that though obvious to many Americans, these points are still “wildly counter-cultural” in Europe. Like Weigel, I hope someone takes notice to help bring needed religious, political, business and cultural change to Europe.
