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Pope condemns capitalism's 'failures', calls for 'a form of redistribution of wealth'

Pope Benedict XVI signs his encyclical 'Charity in Truth' at the Vatican July 6, 2009. (REUTERS/Osservatore Romano)

July 7 (Financial Times) -- Pope Benedict XVI on Tuesday condemned the 'grave deviations and failures' of capitalism exposed by the financial crisis and issued a strong call for a 'true world political authority' to oversee a return to ethics in the global economy. . . continue reading.

Related items: Pope calls for New Financial Order with 'real teeth'; Transcript of Papal encyclical

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