Vatican Committee's Document on International Financial and Monetary Systems

There have been a great many shock headlines about the study released by a Vatican congregation yesterday.  Therefore, we think it is important to point out, for the benefit of our non-Catholic readers, that this document has no formal teaching authority in the Church.  It is as much the Pope's policy and agenda as a study released by the National Institutes of Health would be the President's policy and agenda.  It is rather the work of a low-level committee interested in stimulating discussion.

Because it is not a Magisterial document reflecting Catholic social teaching, we think it would have been best for the Council for Justice and Peace to have avoided the inevitable headlines and left the thing in their files.  The details of economic policy should be determined by experts among the laity and not bureaucrats working for bishops.  This document, which does not speak for the Pope, will create a lot of misunderstanding about the intentions of the Church, will fuel bigotry and mistrust, and distracts from the Church's essential moral and doctrinal teachings and her salvific mission.