The Pope on 'Love in Truth'

Wall St. Journal ^ | July 09th 2009

[Steelfish]

JULY 10, 2009

The Pope on 'Love in Truth'

Anyone seeking a repudiation of the market economy will be disappointed.

By ROBERT A. SIRICO

In his much anticipated third encyclical, Caritas in Veritate (Love in Truth), Pope Benedict XVI does not focus on specific systems of economics -- he is not attempting to shore up anyone's political agenda. He is rather concerned with morality and the theological foundation of culture. The context is of course a global economic crisis -- a crisis that's taken place in a moral vacuum, where the love of truth has been abandoned in favor of a crude materialism.

The pope urges that this crisis become "an opportunity for discernment, in which to shape a new vision for the future."

Yet his encyclical contains no talk of seeking a third way between markets and socialism. Words like greed and capitalism make no appearance here, despite press headlines following the publication of the encyclical earlier this week. People seeking a blueprint for the political restructuring of the world economy won't find it here.

But if they look to this document as a means for the moral reconstruction of the world's cultures and societies, which in turn influence economic events, they will find much to reflect upon.

Caritas in Veritate is an eloquent restatement of old truths casually dismissed in modern times. The pope is pointing to a path neglected in all the talk of economic stimulus, namely a global embrace of truth-filled charity.

Benedict rightly attributes the crisis itself to "badly managed and largely speculative financial dealing." But he resists the current fashion of blaming all existing world problems on the market economy. "The Church," he writes, "has always held that economic action is not to be regarded as something opposed to society."

[JoeProBono]