Pope: Market capitalism has failed in pandemic, needs reform

ROME — Pope Francis says the coronavirus pandemic has proven that the “magic theories” of market capitalism have failed and that the world needs a new type of politics that promotes dialogue and solidarity and rejects war at all costs. Francis on Sunday laid out his vision for a post-COVID world by uniting the core elements of his social teachings into a new encyclical aimed at inspiring a revived sense of the human family. “Fratelli Tutti” (Brothers All) was released on the feast day of his namesake, the peace-loving St. Francis of Assisi.-- More...