1931
– “QUADRAGESSIMO ANNO” LETTER ISSUED BY POPE PIUS
XI
The Pope discusses the ethical implications of economic and social order in this letter, warning of the dangers of unrestrained capitalism.
"Economic dictatorship is being most forcibly excercised by the few who hold the money and completely control it, control credit and the lending of money. Hence they regulate the flow of the life-blood whereby the entire economic system lives, and have so firmly in their grasp the soul of economics that no one can breathe against their will."
The Pope discusses the ethical implications of economic and social order in this letter, warning of the dangers of unrestrained capitalism.
"Economic dictatorship is being most forcibly excercised by the few who hold the money and completely control it, control credit and the lending of money. Hence they regulate the flow of the life-blood whereby the entire economic system lives, and have so firmly in their grasp the soul of economics that no one can breathe against their will."
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