The Flawed Economic Views Of Pope Francis

Earlier this week, Pope Francis laid out an economic treatise that condemns income inequality. He lays blame on “trickle-down theories….encouraged by a free market” for the current state of poverty. Furthermore, the ability of the free market to lift up the poor “has never been confirmed by the facts.”

With all due respect, it is Pope Francis who is playing loose with the facts.

Whether society’s one-percenters are doing enough charitably for the poor or not, I’ll leave for others to judge. I won’t argue that capitalism will eliminate all poverty. But the FACTS prove that a market economy is the world’s most effective anti-poverty program.

The pope is calling for more than just more charity; he wants states to be more involved, presumably with expanded programs and regulations.

Does he truly believe Europe is in the throngs of a stateless free market? They’re not. And as Europe grows more statist, so too do their economic woes.

And the United States? We’ve experienced 13 years of increased welfare spending and increased regulatory activity, hardly hallmarks of “unfettered capitalism.” The results are anemic.

A shift towards the “unfettered capitalism” Pope Francis imagines taking place right now would provide a more tangible benefit to the poor than continuing statist policies the pope endorses.

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