Pope Slams Capitalism, Inequality Between Rich And Poor In New Years Message

[MaxShimba]

Earlier in his homily, the leader of the world's 1.2 billion Roman Catholics decried "hotbeds of tension and conflict caused by growing instances of inequality between rich and poor".

He also denounced "the prevalence of a selfish and individualistic mindset which also finds expression in an unregulated capitalism, various forms of terrorism and criminality".

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In his full message for the peace day, the pope called for a new economic model and ethical regulations for markets, saying the global financial crisis was proof that capitalism does not protect society's weakest members.

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