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Updated
12/11/2020 06:16 PM EST
2020-12-11T06:16-0500
Pressure is on for markets to work better. While critics of today’s capitalism are unlikely to be satisfied with the rate and scale of change, politicians and executives on every continent have seen the writing on the wall. Even the Vatican is moving far beyond its comfort zone in the push for change.
Pope Francis Wades into Institutional Investing, Calls for Changes in Capitalism
Posted on 12/10/2020
The Council for Inclusive Capitalism with the Vatican is a new partnership between some of the world’s largest investment and business leaders and the Vatican. In this unusual pairing, big business and Pope Francis are coming to terms on how businesses should operate. The pontiff has on numerous occasions criticized capitalism in blistering terms. In October, Pope Francis said that the coronavirus pandemic has proven that the “magic theories” of market capitalism have failed. He added that the world needs a new type of politics that promotes dialogue and solidarity and rejects war at all costs.