Pope Benedict XVI released his writings on social welfare and reform for the economy and the world in the “Charity in Truth” encyclical this Tuesday. In the 144 page document, he discusses the environment, globalization, and corporate and business ethics.

Submitted by Marlene Donor on July 7, 2009 - 4:36pm. Europe | Nation - World | Politics and Elections | The Americas

[Best Syndication News] Pope Benedict XVI released his writings on social welfare and reform for the economy and the world in the “Charity in Truth” encyclical this Tuesday. In the 144 page document, he discusses the environment, globalization, and corporate and business ethics.

The Pope released the “Charity in Truth” encyclical letter which points out the growing separation between the rich and the poor. He wrote, “Financiers must rediscover the genuinely ethical foundation of their activity, so as not to abuse the sophisticated instruments which can serve to betray the interests of savers. Right intention, transparency, and the search for positive results are mutually compatible and must never be detached from one another.”

This document was released just before the Group of 8 industrialized nations summit meeting which will be held in Italy on Wednesday.

Pope Benedict is expecting to meet with President Obama on Friday at the Vatican.

Benedict warned of money and corruption. He wrote: "Profit is useful if it serves as a means towards an end that provides a sense both of how to produce it and how to make good use of it. Once profit becomes the exclusive goal, if it is produced by improper means and without the common good as its ultimate end, it risks destroying wealth and creating poverty."

Benedict suggested that globalization could "open up the unprecedented possibility of large-scale redistribution of wealth on a world-wide scale," but at the same time in the wrong hands he warns it "can lead to an increase in poverty and inequality, and could even trigger a global crisis".

He also wrote about the environment saying, “One of the greatest challenges facing the economy is to achieve the most efficient use — not abuse — of natural resources, based on a realization that the notion of ‘efficiency’ is not value-free.”

To read the complete letter you can visit the vatican's website at the url link below:

http://www.vatican.va/holy_father/benedict_xvi/encyclicals/documents/hf_ben-xvi_enc_20090629_caritas-in-veritate_en.html

By: Marlene Donor