Via Salon.com, I see today that the Pope has made some comments about the global economy:
[Globalization] is a phenomenon, he commented, that gives hope of a wider participation in economic development and riches. It is a process not without its risks, however, leading in some cases to worsening economic inequality. Echoing the words of Pope John Paul II, Benedict XVI called for a globalization characterized by solidarity and without marginalization of people.
This seems to be very consistant with the tradition of Catholic Social Teaching. Indeed, the Pope's claim that it is vitally important "to proclaim the primacy of the human person and the common good over capital, science, technology and even private ownership" is of a piece with a tradition that stretches back over a century now.
It's always interesting to me to watch conservative Catholics go into contortions to harmonize the Church's pro-life stance, which they like (on some things, but not war and the death penalty), with the Church's teaching on morality and economics, which they largely ignore, except insofar as they're forced to critique it, then they hate it.
When I debated Michael Novak back in April, I got this same impression. The Pope is right when his position agrees with Novak's, and the Pope is wrong when he doesn't. The problem of course then becomes what the role of the magisterium is. Of course, there's no requirement that individual Catholics agree with everything the Church teaches, but the degree to which their agreement or disagreement corresponds to what they already think about any given issue is striking.
For me, though, the issue is much simpler: I don't consider the magisterium to be an authority. Though I am often edified by its contributions to the larger Christian discourse.