Magnifica Humanitas §40

⁴⁰ In his social Encyclical Caritas in Veritate , Pope Benedict XVI sought to reassess and expand the concept of development presented in Populorum Progressio , interpreting it in light of globalization. He noted that such development should translate into “real growth, of benefit to everyone and genuinely sustainable.” That is, economic progress that is truly inclusive and respectful of the limits of creation. He reaffirmed, however, that in wealthy countries new kinds of poverty were emerging as well as unprecedented forms of exclusion, while, in poorer regions, small minorities lived in consumerist affluence alongside situations of dehumanizing poverty. In addition, he observed that the new global economic and financial system, marked by a vast mobility of capital and means of production, had reduced the political power of States and their ability to influence economic processes. For this reason, Benedict XVI reiterated that economic activity cannot claim to solve social problems simply through the expansion of a commercial mentality, but must be ordered toward the common good, for which the political community bears its own irreplaceable responsibility.