Pope Francis waded into political and economic waters over the weekend, making the claim that market economics are simply not working.
“There were those who would have had us believe that freedom of the market was sufficient to keep everything secure (after the pandemic hit),” the Pope wrote, according to Reuters.
Francis went on to denounce “this dogma of neo-liberal faith” that promotes “magic theories of ‘spillover’ or ‘trickle’ as the only solution to societal problems.”
The Pope then went on to explain, in his view, what makes good economic policy. Via Reuters:
Those with much must “administer it for the good of all” and rich nations are obliged to share wealth with poor ones. But he said he was “certainly not proposing an authoritarian and abstract universalism”.Slideshow ( 5 images )
Some ultra-traditionalist Catholics have accused Francis of secretly backing a perceived plot for a “One-World Government,” a debunked conspiracy theory.
Francis also re-iterated past calls for politicians to champion policies that favor “redistribution of wealth to help the poorest and for fairer access to natural resources by all,” the report in Reuters said.
The comments were written in an 86-page encyclical titled “Fratelli Tutti” (Brothers All) which was criticized by some when it was announced for “not using inclusive language” in the title.