In a new encyclical, Pope Francis contends the coronavirus pandemic has proved that the “magic theories” of market capitalism have failed and the world needs new systems that promote equality and unity.
The document, “Fratelli Tutti” (Brothers All), is inspired by the teachings of St. Francis of Assisi and the pope’s previous preaching on global injustices, DailyMail.com reported.
Francis asserts it should be clear that it is not enough to “refine” existing systems.
“Aside from the differing ways that various countries responded to the crisis, their inability to work together became quite evident,” he says.
“Anyone who thinks that the only lesson to be learned was the need to improve what we were already doing, or to refine existing systems and regulations, is denying reality.”
Amid the massive loss of jobs as a result of the lockdowns, he writes, politicians must listen to popular movements, unions and marginalized groups to create more just social and economic policies.
“The fragility of world systems in the face of the pandemic has demonstrated that not everything can be resolved by market freedom,” Francis says.
“It is imperative to have a proactive economic policy directed at ‘promoting an economy that favors productive diversity and business creativity’ and makes it possible for jobs to be created, and not cut.”
He charges that the “perverse” global economic system keeps the poor on the margins while enriching the few.
He opposes a right to property for individuals, contending a “social purpose” and common good must come from sharing the Earth’s resources.
The pope asserts the “trickle-down” economic principle doesn’t achieve what it claims.
“Neo-liberalism simply reproduces itself by resorting to magic theories of ‘spillover’ or ‘trickle’ — without using the name — as the only solution to societal problems,” he writes.
“There is little appreciation of the fact that the alleged ‘spillover’ does not resolve the inequality that gives rise to new forms of violence threatening the fabric of society.”
Capitalism a ‘sin’?
In November 2018, as WND reported, progressive filmmaker Michael Moore claimed Pope Francis told him capitalism is a sin and urged Moore to continue making his left-leaning documentaries.
In an interview with NBC’s “Late Night” with Seth Meyers, Moore said he asked the Roman Catholic pontiff about his thoughts on income inequality.
“It was an amazing moment, and I asked him if I could ask him a question,” Moore said. “And he said, ‘Yes.'”
Moore said he asked: “Do you believe that an economic system that benefits the few, the wealthy at the expense of the many is a sin?”
The pope replied, according to Moore, “Si” in Italian.
Moore said he pressed further for clarity: “So you believe capitalism, the kinda – the capitalism we have now is a sin?”
The pope replied: “Yes, it is. The poor must always come first.”
The filmmaker, who recently released the anti-Trump “Fahrenheit 11/9,” said the pope then grabbed his hand and said, “Please, pray for me.”
Moore said he replied: “I will, and please pray for me. And he said, ‘No, you have to make more movies.’ And I’m like, “‘I just wanted a prayer.’ He’s like, ‘No, you go back to – you go back work.’ He has a sense of humor.”
Hugo and me
Moore, along with a number of other prominent figures in Hollywood, was a big fan of the late Venezuelan dictator Hugo Chavez, whose socialist policies ruined the once oil-rich country, with millions having fled catastrophic shortages of food, fresh water, electricity and basic medicines amid record violent crime.
After meeting at the 2009 Venice Film Festival, Moore posted pictures of the two of them together in a tweet.
“Hugo Chavez declared the oil belonged 2 the ppl. He used the oil $ 2 eliminate 75% of extreme poverty, provide free health & education 4 all,” Moore wrote.
Hugo Chavez declared the oil belonged 2 the ppl. He used the oil $ 2 eliminate 75% of extreme poverty, provide free health & education 4 all
— Michael Moore (@MMFlint) March 6, 2013
No more successful system
As many economists have pointed out, hard statistics show that nothing has done more to lift humanity out of poverty than the free market economy.
The Foundation for Economic Education points out that the number of people worldwide living on less than about $2 per day today is less than half of what it was in 1990.
The biggest gains have occurred in countries that have opened up their markets, such as China and India.
The Daily Wire bullet-pointed five statistics demonstrating that the expansion of free enterprise around the world has reduced poverty:
- The number of people living in extreme poverty worldwide declined by 80 percent from 1970 to 2006.
- Mortality rates for children under the age of five declined by 49 percent from 1990 to 2013.
- Poverty worldwide included 94 percent of the world’s population in 1820. In 2011, it was only 17 percent.
- Globally, those in the lower and middle income brackets saw increases in pay of 40 percent from 1988 to 2008.
- The world is 120 times better off today than in 1800 as a result of capitalism.
