Philip Pullella
July 7, 2009

[efoods]Pope Benedict on Tuesday called for a “world political authority” to manage the global economy and for more government regulation of national economies to pull the world out of the current crisis and avoid a repeat.

The pope’s call for a re-think of the way the world economy is run came in new encyclical which touched on a number of social issues but whose main connecting thread was how the current crisis has affected both rich and poor nations.

Called “Charity in Truth,” parts of the encyclical appeared bound to upset conservatives because of its underlying rejection of unbridled capitalism and unregulated market forces, which he said had led to “thoroughly destructive” abuse of the system.

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