Liberation theology

Liberation theology is a Christian political movement founded in Latin America. The term was coined in 1971 by Peruvian Catholic priest Gustavo Gutierrez, writer of one of the movement's chief texts, A Theology of Liberation (1972), though the idea itself goes back to the 1950s.

Poverty is oppression
Liberation theology claim that the root of poverty is sin within society, specifically oppression and injustice against the poor, and that practice (or praxis) -- taking action against poverty and the sin that lies at its root -- is as important as doctrine. (Contrast the Protestant idea of sola scriptura.) It asserts that the Church can better meet the needs of the poor by decentralizing itself, and that God has a preference for those who are marginalized in society (the "preferential option for the poor").

Brazil
The Brazilian group CELAM (the Latin American Episcopal Conference) was one of the major groups supporting LT-style ideas, though it never explicitly called itself such due to the fact that the Vatican was officially opposed to LT. It pushed the Second Vatican Council towards a more socially oriented stance in the early '60s.

Opposition
Liberation theology is opposed by the Catholic Church and by secular critics (such as Glenn Beck ) on the basis that it is Marxist. Supporters of LT, in turn, charge that the reason why the Church opposes it is not because of theology, but because it threatens their material interests, and because they had ties to right-wing dictatorships in Latin America.

Naturally the Religious Right with its, “blessed are the rich” philosophy contradicts Liberation philosophy.

Not big fans
Needless to say, supporters of liberation theology are not big fans of Christian economics.