Pope Francis's Second Encyclical: Laudato Class
Catholic Social Teaching explains how the Christian lives in society, and how a Christian is obligated to make society a more charitable one. Catholic Social Teaching explains what must be followed in order to make a charitable society possible. Pope Francis is a major advocate for Catholic Social Teaching, and thoroughly explains its works in his second encyclical: Laudato si. In this encyclical Pope Francis explains not only the principles of Catholic Social Teaching, but also uses these principles to help shed light on his view of the economic market. Pope Francis’s theory on how the economic market go directly with the principles of Catholic Social Teaching and with the virtues to show how the economy our country is run on has strayed away from these teachings. In the Laudato si, Pope Francis harshly criticizes the Western economy. Pope Francis points out that the economy goes directly against Catholic Social Teachings. In the encyclical, Pope Francis states that “ In order to continue providing employment, it is imperative to promote an economy which favours productive diversity and business creativity.” (129). What Pope Francis is trying to convey here is that
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This crisis was viewed as the biggest financial crisis since the Great Depression. One of the main causes of this would be how major banks took advantage over people who could not be able to pay back right away. Most banks used this through a method of using mortgages in order to demand money from people. The purpose of doing this was to help profit off of hedge fund trading with derivatives. The build-up of this proved to be a bust, and caused the banking crisis of 2007, and then a Wall Street crisis in 2008. That is what led to one of the largest recessions the world has ever seen, almost crippling the world financial
This crisis was viewed as the biggest financial crisis since the Great Depression. One of the main causes of this would be how major banks took advantage over people who could not be able to pay back right away. Most banks used this through a method of using mortgages in order to demand money from people. The purpose of doing this was to help profit off of hedge fund trading with derivatives. The build-up of this proved to be a bust, and caused the banking crisis of 2007, and then a Wall Street crisis in 2008. That is what led to one of the largest recessions the world has ever seen, almost crippling the world financial