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!

Progress toward our September expenses ($4,213 to go):
$35,000.00 $30,786.73
12% 88%
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?

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

Recent Catholic Commentary

Oh, that sort of misconduct [UPDATED] 21 hours ago
Don’t worry about terrorism; worry about workplace violence? 21 hours ago
Doing Great Things for Christ 22 hours ago
Two steps forward, one step back: mixed signals from Vatican on abuse and accountability September 26
The Annulment Question, and Much More September 26

Top Catholic News

Most Important Stories of the Last 30 Days
Cardinals criticize Kasper proposal, escalating debate on remarriage/Communion CWN - September 18
Cardinal Parolin: UN must protect innocents from Islamic State CWN - 10 hours ago