A world figure in need of an economics 101 course.

pope francis

Such nonsense will be seen by many (who are as economic illiterate as the pontiff) as both ‘moral’ and deep thinking, but in reality it shows a sheer ignorance of the economic system he’s bashing. The free enterprise system is the most humane, and moral, economic system ever devised, responsible for raising generations (untold billions) of people out of bone crushing poverty, lifting the average modern person’s well being to a level which rivals that of the ruling elite of over a century (and past centuries) ago.

That is greatness of the system.

What should have been his message, if he had to wander into the economic discussion, is the immorality of massive government wealth redistribution schemes, (read socialism/statism) that routinely robs its citizens of their private earnings and liberty (read=property rights). Such bare knuckled policies reduce the ability for wealth creation within any given society, which ends up with more and more people competing for a slice of an ever shrinking economic pie. In other words, systemic unemployment.

The schizophrenic pope 

On the hand he rails against the free enterprise system, (which is based upon Adam Smith’s proven theory of individuals pursuing their own private interests, are in the end, highly beneficial to society as a whole. His theory also coincides with the Judeo-Christian ethic of man being a free agent. Such an economic system within a state that protects an individual’s property rights, results in massive spurts of wealth creation.) while on the other hand, he encourages the unemployed to simply fight for work.

A valid point of criticism missed by the pontiff, is state crony capitalism, or welfare corporatism, in which the marriage of the state teat and failed and/or monopoly minded business forge bonds to limit economic freedom of new business and competition. That marriage awards failure at the taxpayer expense (loans and subsidies) as well as forcing unwanted expenses onto the consumer due to the lack of competition.

You see, there’s lot to be critical of, you just have to find the right target. Thinking like a socialist will take you down the wrong path every time.

NOTE: The desire or need of something is not evil, it creates motivation for someone to fill that need, which in turn creates markets and industries, which in turn creates jobs, which in turn creates wealth and upward trends in standards of living across the board.

Pope attacks global economics for worshipping ‘god of money’

By Philip Pullella

CAGLIARI, Sardinia (Reuters) – Pope Francis made one of his strongest attacks on the global economic system on Sunday, saying it could no longer be based on a “god called money” and urged the unemployed to fight for work.

Francis, at the start of a day-long trip to the Sardinian capital, Cagliari, put aside his prepared text at a meeting with unemployed workers, including miners in hard hats who told him of their situation, and improvised for nearly 20 minutes.

“I find suffering here … It weakens you and robs you of hope,” he said. “Excuse me if I use strong words, but where there is no work there is no dignity.”

He discarded his prepared speech after listening to Francesco Mattana, a 45-year-old married father of three who lost his job with an alternative energy company four years ago.

Mattana, his voice trembling, told the pope that unemployment “oppresses you and wears you out to the depths of your soul”.

The crowd of about 20,000 people in a square near the city port chanted what Francis called a prayer for “work, work, work”. They cheered each time he spoke of the rights of workers and the personal devastation caused by joblessness.

More here.

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