Pope says unbridled capitalism harmful for planet

(Sept. 24, 2007) Pope Benedict on Sunday warned that unbridled capitalism is widening the gap between the world's rich and poor and threatening the future of the planet. Addressing the faithful at his traditional Sunday midday ‘angelus’ prayer at his summer residence of Castel Gandolfo outside Rome, the Pope said capitalism and a fair distribution of wealth were not contradictory, but the search for profit must not be allowed to go unchecked. "The emergencies of famine and the environment demonstrate with growing clarity that the logic of profit, if predominant, increases the disproportion between the rich and the poor and leads to a ruinous exploitation of the planet," he said commenting on the readings of Sunday Mass, which he celebrated earlier in Velletri, some 30 kms away Rome. "Capitalism should not be considered the only valid model of economic organisation," the Pontiff said, citing the words of his predecessor Pope John Paul II. Catholic doctrine has always given priority to the fair distribution of resources, the Pope said, adding that it is not too late to rein in the excesses of capitalism. "When the logic of sharing and solidarity prevail, it is possible to correct our route and point it towards fair and sustainable development," he said.