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…

Only if there are new human beings will there be a new world, a renewed and better world.

When the Pope said these words at Vespers on Sunday, perhaps he had Bernie Madoff in mind.

Today, Madoff was sentenced to 150 years in prison for defrauding his investors of nearly $65 billion over the course of 20 years. His corruption and crimes ruined the livelihoods of thousands of businesspeople, charity workers, and families that trusted his sterling reputation to protect everything that they had worked to earn.

Unfortunately, Madoff is not the only man to have betrayed his financial responsibilities to others. The last few years saw financial scandals at Enron and WorldCom shake the public’s trust in corporations. Just two weeks ago, Texas billionaire R. Allen Stanford was arrested by the FBI on charges that he used a bank in Antigua to mask his $8 billion fraud, stealing from his investors.

When Pope Leo XIII published his encyclical Rerum Novarum in 1891, he wrote that “A small number of very rich men have been able to lay upon the teeming masses of the laboring poor a yoke little better than slavery itself.” The global economy has come a long way since then, with the rise of laws designed to fight white-collar crime, the expansion of opportunities for Third World entrepreneurship with the removal of tariffs, and the creation of enough wealth to eliminate most of the horrific working conditions of the Victorian Era. Read more on Sin, Responsibility, and the Fall of Bernie Madoff…

Phil Lawler over at Catholic Culture has written a brief and insightful piece that addresses a question frequently asked, “Is Catholic Social Teaching Inherently Liberal?” It is worth a read. Excerpt:

Read more on Obama and the Ideals of Catholic Social Thought…

Father John Zuhlsdorf, who runs the popular Catholic blog “What Does the Prayer Really Say?” has opened a new discussion thread on the work of the Acton Institute. He explains:

In light of what is going on in the world’s economies, and in light of what will be increasing tension between secular governments and the Church, which has her body of teaching on social issues, it is a good idea to have a strong discussion about Acton and the Church’s social teachings.

Read more on Fr. Z: The ‘social Magisterium’ and Acton Institute…

According to a report from the Zenit News Service, Cardinal Renato Martino, president of the Pontifical Council of Justice and Peace, recently insisted that the “logic” of the market be changed. He said that the logic “was till (sic) now that of maximum gain, and therefore the most investments possible directed toward obtaining maximum benefit. And this, according to the social doctrine of the Church, is immoral.” This is because, according to the Cardinal, the market “should be able to benefit not just those who invest capital, but those who participate in the step of making it grow, that is, those who work.”

Read more on Why Not Learn Some Economics First?…

Cardinal Tarcisio Bertone, the Vatican’s Secretary of State and effectively the second most important official in the Catholic Church, has written a new book titled, “L’etica del Bene Comune nella Dottrina Sociale della Chiesa” (The Ethics of the Common Good in the Social Doctrine of the Church), with a preface from the Russian Orthodox Metropolitan Kirill of Smolensk and Kaliningrad. The edition contains the Italian and Russian texts side-by-side, but it has not yet appeared in English though the Zenit News Agency has reported on the book’s presentation in Moscow.

Read more on Review: Cardinal Bertone on Catholic social doctrine…

Distributism may be a foreign term to many, but it is a movement of some importance in the history of Catholic social and economic thought. Popularized especially in early twentieth-century England by the prolific writers G.K. Chesterton and Hilaire Belloc, distributism has enjoyed mini-resurgences from time to time on both sides of the Atlantic. That it still packs some punch here in the U.S. is demonstrated, for example, by the recent creation of IHS Press. (IHS is not exclusively a distributist outlet, but distributist literature represents a significant portion of their publishing program.)

Read more on Beyond Distributism…

It’s still more than a week off, but the US Catholic bishops are out in front, issuing a Labor Day statement this week. Bishop William Murphy, chairman of the (extravagantly titled) Committee on Domestic Justice and Human Development, wrote the statement, which begins as an encomium to the late Msgr. George Higgins, arguably the last of a species once well known in American Catholic life, the labor priest. Fr. Sirico ably described the strengths and weaknesses of Higgins’ career upon his passing six years ago.

Read more on Bishop Murphy on Labor Day…

Dr. Luckey

We welcome Acton adjunct scholar Dr. William R. Luckey, Professor of Political Science and Economics at Christendom College, to the PowerBlog. Dr. Luckey has expertise in Political Philosophy, Business and Economics, and Theology, and posts from his excellent Catholic Truths on Economics will be shared here. His tagline explains why he is a perfect fit for the PowerBlog: Guidance on Economics, its importance for Catholics, its importance to civilizations, and what are its objective truths. It might sound boring…but boy, we are all affected by it.

Read more on Luckey Joins Acton PowerBlog…

Pope John XXIII was once asked how many people worked for the Vatican. “About half” he humorously replied, alluding to a workforce not known for its speed and efficiency. Under the pontificates of John Paul II and especially Benedict XVI, however, the Vatican seems to have made some efforts to improve the delivery of various services.

Take for example this interview with the city-state’s head physician, Dr. Giovanni Rocchi, who boasts of minimal waiting periods for patients at Vatican-run health clinics and laboratories. Such medical services are provided to Vatican employees and residents, including the Swiss Guard, local security officials, and the thousands of daily visitors to the Vatican.

Emergency treatment, Dr. Rocchi says, is immediate and often relies on its own ambulance service to transport the injured and sick. Clinical test results are typically received within 2-3 days. Major medical interventions such as heart or back surgery are usually arranged within a maximum of 2-3 weeks upon diagnosis, which is nothing compared to the purgatory Italian citizens must endure in the country’s public health care system for similar and even very minor treatments.

The Vatican’s health care system is small-scale, offering limited medical services such as emergency first aid, clinical analyses, immunization, physical check-ups, with much of the routine care provided by general practitioners. Major medical surgery must be arranged through outsourced medical facilities found in Rome’s private religious hospitals, like the Fatebenefratelli hospital located on the Tiber Island or the Gemelli hospital, which cared for Pope John Paul II on several occasions. Read more on The Vatican’s War on Bureaucracy…