LA Times business: Pope urges ‘world authority’ to govern economy, finance


Pope Benedict XVI is offering a solution for what ails the global economy: a “true world political authority” to manage it all.

In a so-called encyclical published today — just as leaders of the world’s biggest economies gather in central Italy for a summit — Benedict mostly focuses on his ideas for achieving “justice and the common good” in the modern economy.

His basic themes are well-traveled, including fairness to workers, the evils of “excessive” wealth disparities and regard for the environment.

But then he ventures onto controversial turf, suggesting that the authority to fix all of this be vested in global governing bodies, including the United Nations.

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