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Vatican banker offers critique of Keynes

Catholic World News - February 03, 2011

Catholic social teaching, particularly in the realm of economics, is sometimes regarded as overly theoretical, notes columnist Jeffrey Tucker. But an essay by Ettore Gotti Tedeschi, the head of the Vatican bank, cannot be subject to that criticism.

Tedeschi, a professional banker with extensive practical experience, undertakes a serious and distinctively Catholic critique of the influence of the economist John Maynard Keynes, arguing that the Keynesian approach is largely to blame for the current woes of the world's financial system.

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