Notable quotations from the papal encyclicalEvangelium VitaeThe Gospel of LifePope John Paul II, 1995(These quotations are from the translation by Joseph Donders in the book entitled John Paul's Encyclicals in Everyday Language.)
The answer is obviously complex. If by "capitalism" is meant an economic system which recognizes the fundamental and positive role of business, the market, private property and the resulting responsibility for the means of production, as well as free human creativity in the economic sector, then the answer is certainly in the affirmative, ...
But if by "capitalism" is meant a system in which freedom in the economic sector is not circumscribed within a strong juridical framework which places it at the service of human freedom in its totality and sees it as a particular aspect of that freedom, the core of which is ethical and religious, then the reply is certainly negative. (Official text, #42)