Pope John XXIII
Mater et Magistra §118
Mater et Magistra: On Christianity and Social Progress
118 It is important, too, not to overlook the fact that the economic enterprises of the State and other agencies of public law must be entrusted to men of good reputation who have the necessary experience and ability and a keen sense of responsibility towards their country. Furthermore, a strict check should constantly be kept upon their activity, so as to avoid any possibility of the concentration of undue economic power in the hands of a few State officials, to the detriment of the best interests of the community.
Source: Mater et Magistra (Vatican.va)