Caritas In Veritate

Today Pope Benedict XVI issued his latest encyclical letter entitled Caritas In Veritate, which started a buzz of discussion in many Catholic circles. I have yet not have time to read much except a few choice sections of this thought provoking document. Hopefully I’ll find an evening, possibly tonight, to read it properly prior to this weekend (warning to friends: this may become a discussion topic this weekend)

Apparently the writing is creating a stir in some economic and political circles as well. Though I question if the commentators spent the quality time reading it, a number have started responding to the Pope's encyclical.

The Wall Street Journal reports and notes the release is done just before the G8 Summit and Obama’s Vatican visit this Friday. One quote catches my attention:

"He's trying to develop a moral foundation to support the sustainability of free markets," said Carl Anderson, chief executive of the Knights of Columbus, a Catholic order based in New Haven, Conn., and a member of several Vatican advisory bodies. "A lot of people are looking at the meeting [with Mr. Obama] in terms of issues like abortion. But a big issue with this encyclical is: Are American Catholic businessmen going to listen?"

Reuters News reports on this as well:

In several sections of the encyclical, Benedict made it clear he had great reservations about a totally free market. "The conviction that the economy must be autonomous, that it must be shielded from 'influences' of a moral character, has led man to abuse the economic process in a thoroughly destructive way," he said. "In the long term, these convictions have led to economic, social and political systems that trample upon personal and social freedom and are therefore unable to deliver the justice that they promise," he added. Profit was useful only if it served as a means to a brighter future for all humanity.

This encyclical letter is bound to get the folks at The Economist talking.