Fr. Sirico on Caritas in Veritate

I've been waiting to read Fr. Sirico's views. [I read recently his brother is the actor who played Paulie Walnuts on Soprano's. Hmmm...] Excerpt from WSJ today:

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." Further: "Society does not have to protect itself from the market, as if the development of the latter were ipso facto to entail the death of authentically human relations."

The market is rather shaped by culture. "Economy and finance . . . can be used badly when those at the helm are motivated by purely selfish ends. Instruments that are good in themselves can thereby be transformed into harmful ones. But it is man's darkened reason that produces these consequences, not the instrument per se. Therefore it is not the instrument that must be called to account, but individuals, their moral conscience and their personal and social responsibility."

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