Pope Francis on Tuesday sharply criticized growing economic inequality and unfettered markets in a lengthy paper outlining a populist philosophy that he says will guide his papacy as he pushes the Catholic Church to reach out more, particularly to the disenfranchised.

Using sharply worded phrases, Francis decried an "idolatry of money" and warned it would lead to "a new tyranny." And he invoked language with particular resonance in the United States, attacking an economic theory most affiliated with conservatives that discourages taxation and regulation.

"Some people continue to defend trickle-down theories which assume that economic growth, encouraged by a free market, will inevitably succeed in bringing about greater justice and inclusiveness in the world," Francis wrote in the papal statement.