“It is alarming to see hotbeds of tension and conflict caused by growing instances of inequality between rich and poor, by the prevalence of a selfish and individualistic mindset which also finds expression in an unregulated financial capitalism. In addition to the varied forms of terrorism and international crime, peace is also endangered by those forms of fundamentalism and fanaticism which distort the true nature of religion, which is called to foster fellowship and reconciliation among people.” ~ Pope Benedict, Message for the Celebration of the World Day of Peace, 1 January 2013
Wednesday, March 27, 2013
Pope and Unregulated Financial Capitalism
I never thought I'd find myself posting a quote from the Pope.
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3 comments:
It is a bit of an exaggeration that financial capitalism is unregulated. It may not be regulated enough but there are certainly regulations in place. One of the problems, though, as the saying goes, regulations are made to be broken.
The recent finical crises in America and Europe have certainly introduced new regulations. Future financial capitalism is going to be different.
Perhaps he should've said that it wasn't regulated enough. On the other hand, like Ortega once said, if you're not going to exaggerate to make a point then you might as well keep your mouth shut.
I don't agree with Ortega, about keeping your mouth shut if your are going to exaggerate. Most often people don't pay attention or get the point unless one exaggerates.
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