In a new Evangelii Gadium, Pope Francis has condemned doctrinaire capitalism, “deified markets,” trickle-down economics, and the finance industry. He decried the growing gap between the rich and the poor, tax evasion by the wealthy, and characterized ruthless free-market economics as a killer that was inherently sinful.
“I am interested only in helping those who are in thrall to an individualistic, indifferent and self-centered mentality to be freed from those unworthy chains and to attain a way of living and thinking which is more humane, noble and fruitful, and which will bring dignity to their presence on this earth,” the pope wrote.
He also launched a broadside against former President Ronald Reagan’s signature economic theory, which continues to serve as conservative Republican dogma.
“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,” Pope Francis 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.”
The pope lamented that people had “calmly accepted (the) dominion” of money over themselves and society, which he said was expressed in the recent financial crisis and the continuing promotion of consumer-based economies.Details