And about time, too

Evangelii Gaudium: Pope Francis vs libertarian economics.

One of the creepiest combinations on the right of US politics is the mix of Catholic conservatism on social issues with libertarianism on economic issues.   The US Bishops have not exactly been on board with the latter, but have been so keen to have the support of conservative Republican Catholics on matters such as abortion and (for goodness sake) the contraceptive mandate, they don't want to be seen to be too aggressively critical of their perceived allies on matters of economics and social justice.   If it weren't for this dynamic, there should have been sermons across the land condemning Ayn Rand when Paul Ryan's admiration for her was being discussed in the media.

Anyhow, it seems that at last we have a Pope prepared to do some straight talking on this issue, and it'll fun to watch how the American Right spins this:

....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. 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.

 While the earnings of a minority are growing exponentially, so too is the gap separating the majority from the prosperity enjoyed by those happy few. This imbalance is the result of ideologies which defend the absolute autonomy of the marketplace and financial speculation. Consequently, they reject the right of states, charged with vigilance for the common good, to exercise any form of control. A new tyranny is thus born, invisible and often virtual, which unilaterally and relentlessly imposes its own laws and rules.

In this system, which tends to devour everything which stands in the way of increased profits, whatever is fragile, like the environment, is defenseless before the interests of a deified market, which become the only rule.

A financial reform open to such ethical considerations would require a vigorous change of approach on the part of political leaders. I urge them to face this challenge with determination and an eye to the future, while not ignoring, of course, the specifics of each case. Money must serve, not rule! The Pope loves everyone, rich and poor alike, but he is obliged in the name of Christ to remind all that the rich must help, respect and promote the poor.