Challenge Grant: Our Boosters will match donations up to $45,000. We have $38,805 to go. Please donate!
Click here to advertise on CatholicCulture.org

Vatican banker sees flaws in Western economies

Catholic World News - August 17, 2011

Ettore Gotti Tedeschi, the head of the Vatican Bank, has some interesting and incisive thoughts on the worldwide economic crisis and the moral underpinnings of capitalism, in this interview for Catholic World Report.

Among his many useful observation, Tedeschi notes that a strong capitalist economy is predicated on growth, and economic growth requires a steady expansion of both the workforce and the market of consumers--which, in turn, requires growth in the overall population. The Western nations, he observes, are no longer growing in population, and their economic systems are now based not on production but on a steady expansion of consumption and debt.

Additional sources for this story
Some links will take you to other sites, in a new window.

An appeal from our founder, Dr. Jeffrey Mirus:

Dear reader: If you found the information on this page helpful in your pursuit of a better Catholic life, please support our work with a donation. Your donation will help us reach seven million Truth-seeking readers worldwide this year. Thank you!

Our Fall Campaign
Progress toward our year-end goal ($126,298 to go):
$150,000.00 $23,701.70
84% 16%
Sound Off! CatholicCulture.org supporters weigh in.

All comments are moderated. To lighten our editing burden, only current donors are allowed to Sound Off. If you are a donor, log in to see the comment form; otherwise please support our work, and Sound Off!

Show 1 Comments? (Hidden)Hide Comments
  • Posted by: - Aug. 17, 2011 4:23 PM ET USA

    "Tedeschi notes that a strong capitalist economy is predicated on growth, and economic growth requires a steady expansion of both the workforce and the market of consumers--which, in turn, requires growth in the overall population." Tedeschi (at least here) seems to ignore the role of technology but, hey, there are only so many nails you can hit on the head with so few words. Is he available for POTUS?

Fall 2014 Campaign
Subscribe for free
Shop Amazon
Click here to advertise on CatholicCulture.org

Recent Catholic Commentary

The Synod: It's a Wrap! 6 hours ago
A chaotic synod? Not in its results 7 hours ago
Cardinal Kasper's unsubtle threat 13 hours ago
When Catholics are less Catholic than non-Catholics October 20
Cardinal Kasper's nose is growing again October 18

Top Catholic News

Most Important Stories of the Last 30 Days
Key synod report calls for 'gradualism' in Church response to irregular family situations CWN - October 13
As synod concludes, bishops issue message, approve document; Pope weighs in CWN - October 20
Cardinal Parolin: UN must protect innocents from Islamic State CWN - September 30
Synod of Bishops opens with Mass in St. Peter’s Basilica CWN - October 6