Comment: Tom Woods' answer to this very question:

"Catholics, Libertarians, Ron Paul, and Secession"
http://lewrockwell.com/woods/woods185.html

Daily Bell: You are a Catholic scholar. What do you think of the recent suggestion by a policy arm of the Church about the positives inherent in world government?

(TomW's reply)
"I wasn't particularly thrilled about it, needless to say. Oddly enough, part of the document attributed the world's economic problems to financial bubbles created by excessive money growth – an important insight." "One of the problems with documents like this is that although much of what is said in them does not bind Catholics – obviously there can be no official Catholic position on how to recapitalize banks – it does put Catholics in an awkward position. This is wholly unnecessary."

**I also highly recommend his book: The Church and the Market: A Catholic Defense of the Free Economy