Popes newest encyclical letter!

"67. In the face of the unrelenting growth of global interdependence, there is a strongly felt need, even in the midst of a global recession, for a reform of the United Nations Organization, and likewise of economic institutions and international finance, so that the concept of the family of nations can acquire real teeth. One also senses the urgent need to find innovative ways of implementing the principle of the responsibility to protect[146] and of giving poorer nations an effective voice in shared decision-making. This seems necessary in order to arrive at a political, juridical and economic order which can increase and give direction to international cooperation for the development of all peoples in solidarity. To manage the global economy; to revive economies hit by the crisis; to avoid any deterioration of the present crisis and the greater imbalances that would result; to bring about integral and timely disarmament, food security and peace; to guarantee the protection of the environment and to regulate migration: for all this, there is urgent need of a true world political authority, as my predecessor Blessed John XXIII indicated some years ago. Such an authority would need to be regulated by law, to observe consistently the principles of subsidiarity and solidarity, to seek to establish the common good[147], and to make a commitment to securing authentic integral human development inspired by the values of charity in truth. Furthermore, such an authority would need to be universally recognized and to be vested with the effective power to ensure security for all, regard for justice, and respect for rights[148]. Obviously it would have to have the authority to ensure compliance with its decisions from all parties, and also with the coordinated measures adopted in various international forums. Without this, despite the great progress accomplished in various sectors, international law would risk being conditioned by the balance of power among the strongest nations. The integral development of peoples and international cooperation require the establishment of a greater degree of international ordering, marked by subsidiarity, for the management of globalization[149]. They also require the construction of a social order that at last conforms to the moral order, to the interconnection between moral and social spheres, and to the link between politics and the economic and civil spheres, as envisaged by the Charter of the United Nations."

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"I dare not longer contradict the decrees of him [The Roman Pontiff] who keeps the doors of the Kingdom of Heaven, lest he should refuse me admission."
-- King Oswy, at the Synod of Whitby in A.D. 664, declaring himself in favor of the arguments of Bishop Wilfrid (who himself had just quoted Saint Peter) thereby aligning England with the Holy Apostolic See of Rome.

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"[The Holy Apostolic See of Rome] from God the Incarnate Word Himself, as well as all the Holy Councils, according to the sacred canons and definitions, has received and possesses supreme power in all things and for all things, over all the Holy churches of God throughout the world, as well as power and authority of binding and loosing. For with this Church, the Word, who commands the powers of Heaven, binds and looses in Heaven."
-St. Maximus the Confessor,(PG xci, 144)

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-Sub Tuum Praesidium-
We fly to thy patronage,O holy Mother of God;despise not our petitions in our necessities, but from all dangers deliver us always, O glorious and blessed Virgin. Amen. [Prayer to the Blessed Virgin Mary, circa 250 A.D.]

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We adore Thee, O Christ, and we bless Thee; because by Thy holy Cross Thou hast redeemed the world.
-[Roman Breviary]

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Teach me to do Thy will, because Thou art my God.
[Psalm 142:10]

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"I dare not longer contradict the decrees of him [The Roman Pontiff] who keeps the doors of the Kingdom of Heaven, lest he should refuse me admission."
-- King Oswy, at the Synod of Whitby in A.D. 664, declaring himself in favor of the arguments of Bishop Wilfrid (who himself had just quoted Saint Peter) thereby aligning England with the Holy Apostolic See of Rome.

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"[The Holy Apostolic See of Rome] from God the Incarnate Word Himself, as well as all the Holy Councils, according to the sacred canons and definitions, has received and possesses supreme power in all things and for all things, over all the Holy churches of God throughout the world, as well as power and authority of binding and loosing. For with this Church, the Word, who commands the powers of Heaven, binds and looses in Heaven."
-St. Maximus the Confessor,(PG xci, 144)

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-Sub Tuum Praesidium-
We fly to thy patronage,O holy Mother of God;despise not our petitions in our necessities, but from all dangers deliver us always, O glorious and blessed Virgin. Amen. [Prayer to the Blessed Virgin Mary, circa 250 A.D.]

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We adore Thee, O Christ, and we bless Thee; because by Thy holy Cross Thou hast redeemed the world.
-[Roman Breviary]

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Teach me to do Thy will, because Thou art my God.
[Psalm 142:10]

Hence the principle of subsidiarity is particularly well-suited to managing globalization and directing it towards authentic human development. In order not to produce a dangerous universal power of a tyrannical nature, the governance of globalization must be marked by subsidiarity, articulated into several layers and involving different levels that can work together. Globalization certainly requires authority, insofar as it poses the problem of a global common good that needs to be pursued. This authority, however, must be organized in a subsidiary and stratified way[138], if it is not to infringe upon freedom and if it is to yield effective results in practice.

58. The principle of subsidiarity must remain closely linked to the principle of solidarity and vice versa, since the former without the latter gives way to social privatism, while the latter without the former gives way to paternalist social assistance that is demeaning to those in need.

116. Yet let no one think that all the socialist groups or factions that are not communist have, without exception, recovered their senses to this extent either in fact or in name. For the most part they do not reject the class struggle or the abolition of ownership, but only in some degree modify them. Now if these false principles are modified and to some extent erased from the program, the question arises, or rather is raised without warrant by some, whether the principles of Christian truth cannot perhaps be also modified to some degree and be tempered so as to meet Socialism half-way and, as it were, by a middle course, come to agreement with it. There are some allured by the foolish hope that socialists in this way will be drawn to us. A vain hope! Those who want to be apostles among socialists ought to profess Christian truth whole and entire, openly and sincerely, and not connive at error in any way. If they truly wish to be heralds of the Gospel, let them above all strive to show to socialists that socialist claims, so far as they are just, are far more strongly supported by the principles of Christian faith and much more effectively promoted through the power of Christian charity.

117. But what if Socialism has really been so tempered and modified as to the class struggle and private ownership that there is in it no longer anything to be censured on these points? Has it thereby renounced its contradictory nature to the Christian religion? This is the question that holds many minds in suspense. And numerous are the Catholics who, although they clearly understand that Christian principles can never be abandoned or diminished seem to turn their eyes to the Holy See and earnestly beseech Us to decide whether this form of Socialism has so far recovered from false doctrines that it can be accepted without the sacrifice of any Christian principle and in a certain sense be baptized. That We, in keeping with Our fatherly solicitude, may answer their petitions, We make this pronouncement: Whether considered as a doctrine, or an historical fact, or a movement, Socialism, if it remains truly Socialism, even after it has yielded to truth and justice on the points which we have mentioned, cannot be reconciled with the teachings of the Catholic Church because its concept of society itself is utterly foreign to Christian truth.
Pius XI, Encyclical Letter Quadragesimo anno, on reconstruction of the social order

His concern is managing globalization to keep it focused on the value of the individual. He's not berating Capitalists, nor is he lauding Socialists, he's trying to keep the world focused on the value of the individual when it is moving further away from it by limiting births and promoting abortions, both evils which he talks about in Caritas in veritate.