Pope does not condemn capitalism

Cardinal Dolan writes.
Catholic World News – May 23, 2014

In a column published in the Wall Street Journal, New York’s Cardinal Timothy Dolan argues that it is a mistake to interpret public statements by Pope Francis as condemnations of a capitalist economic system.

The Pope, Cardinal Dolan explains, has advanced the principles of Catholic social teaching, insisting “that economic and social activity must be based on the virtues of compassion and generosity.” The Holy Father does not condemn capitalism, he says, but reminds us that economic systems should be guided by moral standards.

Cardinal Dolan also reminds Journal readers that the Pope’s public statements are not aimed solely at American readers:

For many in developing or newly industrialized countries, what passes as capitalism is an exploitative racket for the benefit of the few powerful and wealthy.

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