Pope Chides Greedy Speculators on Food Prices

Profit-hungry markets have ignored human rights, he says
By Newser Editors and Wire Services
Posted Jul 1, 2011 11:52 AM CDT
Pope Benedict XVI, flanked by Archbishop James Harvey, greets faithful in Paul VI Hall at the Vatican, Thursday, June 30, 2011.   (AP Photo/Pier Paolo Cito)
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(Newser) – Pope Benedict XVI denounced speculation in commodities markets today and demanded a global response to high food prices based on solidarity, not profit. Benedict told delegates of the UN Food and Agriculture Organization that access to food is a basic human right that must be guaranteed. He said it's urgent to develop economic models that aren't just based on profit but take into account the "human dimension." High food prices, he said, require an international response by countries and institutions like the FAO to uphold the dignity of all people.

"How can we remain silent when even food has become the object of speculation or is linked to a market that, without any regulation and deprived of moral principles, appears linked solely to an objective of profit?" he asked. Click to read how one group thinks food prices will double in 20 years.

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