Pope Francis takes aim at unbridled capitalism

November 29, 2013 | By | Reply More

The Washington Post reports on the Pope’s recent writing on economic policy:

In the first lengthy writing of his papacy — also known as an “apostolic exhortation” — Francis says such economic theories naively rely on the goodness of those in charge and create a “tyranny” of the markets.
“In this context, 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,” the pope wrote. “This opinion, which has never been confirmed by the facts, expresses a crude and naïve trust in the goodness of those wielding economic power and in the sacralized workings of the prevailing economic system. Meanwhile, the excluded are still waiting.”

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Category: Economy, income disparity

About the Author ()

Erich Vieth is an attorney focusing on consumer law litigation and appellate practice. He is also a working musician and a writer, having founded Dangerous Intersection in 2006. Erich lives in the Shaw Neighborhood of St. Louis, Missouri, where he lives half-time with his two extraordinary daughters.

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