Pope Francis criticized the modern market economy, pointing to social inequality, La Croix reported.

According to the pontiff, the idolatry of money is inherent in global economic system. More than 80% of the wealth of humanity is in hands of about 16% of the population. And he also mentioned that completely free market does not work.

Francis noted that the market itself is a good thing, but in this case the state should monitor and ensure compliance with the balance, what we call the social market economy.

Francis also criticized the practice of export of the western democracy in a number of Islamic countries such as Iraq or Libya.