Pope Benedict XVI offered suggestions for ethical ways to stimulate the economy, even as world leaders gathered in Italy for the G8 Summit.
In the pope's third encyclical to the world's bishops--titled "Charity and Truth"-- he said globalization is not inherently bad, but must be properly managed.
CBN News spoke with Carl Anderson of the world's largest Catholic fraternal organization, the Knight's of Columbus. He says the pope's encyclical echoes the Christian responsibility to "love thy neighbor."
Click play for his comments.
"The processes of globalization, suitably understood and directed, open up the unprecedented possibility of large-scale redistribution of wealth on a world-wide scale," Benedict wrote.
One Vatican watcher said the pope is really calling for global financial controls.
"He is calling for a new world political authority," Vatican analyst Antonio Pelayo said. "A new financial and economic authority to put an end to this crisis that is devouring our world."