Regional News • World

Pope Francis calls for reform of market capitalism

Laying out his vision for a world after the Covid-19 pandemic, Pope Francis has stated that the "magic theories" of market capitalism have failed during the pandemic.

He has called for a new dialogue and solidarity in order to prevent war at all costs. He stated in response to the political actions from countries during the pandemic that "anyone who thinks that the only lesson to be learned was the need to improve what we were already doing, or to refine existing systems and regulations, is denying reality".

In addition, he states that "it is imperative to have a proactive economic policy directed at ‘promoting an economy that favours productive diversity and business creativity’ and makes it possible for jobs to be created, and not cut".

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Card reviewed by: @ericof