The Pope On Capitalism

Pope Francis has released a “position paper,” a teaching document which is important but not infallible.  I am responding to the news stories abut the document, not the document, becuase I have not read the document, and the news storries may very well misrepresent what the document says.

VATICAN CITY (Reuters) - Pope Francis called for renewal of the Roman Catholic Church and attacked unfettered capitalism as "a new tyranny", urging global leaders to fight poverty and growing inequality in the first major work he has authored alone as pontiff.

***Well, capitalism, unfettered or otherwise, is a problem, since it legally protects usury. ***

In it, Francis went further than previous comments criticizing the global economic system, attacking the "idolatry of money" and beseeching politicians to guarantee all citizens "dignified work, education and healthcare".

***Now this is odd.  How do politicians  guarantee all citizens dignified work, education and healthcare?  Only markets can provide this.  Capitalism is not markets, but neither is politics.  I must read the original to see how this is resolved.***

He also called on rich people to share their wealth. "Just as the commandment 'Thou shalt not kill' sets a clear limit in order to safeguard the value of human life, today we also have to say 'thou shalt not' to an economy of exclusion and inequality. Such an economy kills," Francis wrote in the document issued on Tuesday.

***The real wealth is human action, participation in life.  The best way to share wealth is investing in the businesses that create goods and services for fellow man.  Again, I look forward to reading his ideas for sharing the wealth.***

In it, economic inequality features as one of the issues Francis is most concerned about, and the 76-year-old pontiff calls for an overhaul of the financial system and warns that unequal distribution of wealth inevitably leads to violence.

***Yes, and that violence is most welcome by the abusers themselves.  Such a crisis gives them more power.***

"As long as the problems of the poor are not radically resolved by rejecting the absolute autonomy of markets 

***Absolutely correct...  markets need the governance of the players, the buyer and the seller in their natural roles...***

and financial speculation 

***Capitalism is based on financial speculation instead of gainful production.  It well understands gainful production, but only to better play the financial speculator.***

and by attacking the structural causes of inequality, no solution will be found for the world's problems or, for that matter, to any problems," he wrote.

***Right... and the structural causes are all rooted in state interference in the markets.  For example, the outrageous Jim Crow laws were laws, only held in place by the force of the state.  So it is with the structuraly causes of inequality.***

Denying this was simple populism, he called for action "beyond a simple welfare mentality" 

***Excellent, welfare is a trap...***

and added: "I beg the Lord to grant us more politicians who are genuinely disturbed by the state of society, the people, the lives of the poor."

*** Screeeeeech... say what?  I need to read this in context.  Is this a throw-away line or the summary?  Assuming any were, what could they do?  Assuming all were, what makes anyone think they would agree on a solution?  Assuming  they all agreed, what could they do?  I bet he has better things to say than this.***

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