Supposedly it was mistranslated, and should have read "unrestricted consumerism."
Who does the Pope think should be restricting “consumerism”?
The word Pope Francis spoke WAS “capitalism.” But whereas Americans have confused “capitalism” with “free markets,” Europeans use the word as we would use the word, “plutocracy.” (Reagan AWLAYS spoke of free markets; I was very concerned when the Bushes and Clinton spoke of bringing “capitalism” to China, etc.)
Capitalism is the rule by money, and is idolatry. China is capitalist, but it is not free. The U.S., once a free market, is still capitalist, but no longer free.
That said, I am completely scandalized by the Pope’s abandonment of the principle of subsidiarity, a Catholic social doctrine which directly opposes statism.