Economy Archives

Businesses near Vatican reeling as coronavirus fears turn area into ghost town

Mar 10, 2020

The economic threat caused by a coronavirus-induced collapse in tourism is particularly existential for businesses operating near the Vatican, which are heavily dependent on the all-but-gone tourist trade, with many facing staggering losses that could force them to close their doors.

By Elise Ann Allen

Pope Francis says international debt can’t be paid at ‘price of unbearable sacrifices’

Feb 5, 2020

Speaking at a summit in Rome of some of the world’s most powerful financial officials, Pope Francis said the fact that five million children under five will die this year due to extreme poverty is something that should motivate the world to act.

By Inés San Martín

Pope’s direct experience of financial crisis informs views on economy, expert says

Feb 5, 2020

Eric LeCompte, executive director of Jubilee USA Network, says when Pope Francis goes against “vulture funds,” and calls for a new economic model, it’s because he has first-hand experience of the financial crisis these institutions caused in his home country, Argentina.

By Inés San Martín

Top Vatican official says Americans misunderstand pope’s social agenda

May 15, 2019

Cardinal Peter Turkson, one of Pope Francis’s top advisors, said Tuesday that every time he goes to the United States, the pope’s social agenda is misinterpreted as adopting either a socialist or communist approach to the economy.

By Elise Harris

Pope invites young people to pledge to build a new economy

May 13, 2019

Pope Francis has invited young economists and entrepreneurs around the world to help create a “new and courageous culture” that finds new ways to do business, promote human dignity and protect the environment.

By Carol Glatz

Bishops’ wisdom of a century ago rises to the fore in economic debate

Feb 10, 2019

Some U.S. bishops, just months after the end of the Great War — better known today as World War I — met to assemble a proposal for a “reconstruction” program for the country now that the war had ended.

By Mark Pattison