Um, far be it for me to disagree with His Holiness, but...

[elfs]

In an article about the financial crisis of 2008, this comment caught my eye:

Italy's Finance Minister Giulio Tremonti observed, "The prediction that an undisciplined economy would collapse by its own rules can be found" in a 1985 paper (see Market Economy and Ethics, Acton Institute) by then Cardinal Joseph Ratzinger, which Tremonti called "prophetic".

Excuse me, Pope Benedict, but Karl Marx is on line one, and he would like to have a word with you.

Comments

[oldhans117.livejournal.com]

Such a surprise, every time you have a market with no controls it eventually falls apart in a massive criminal wave. Happened in 1928 and 1988 and in the panic of 1893.