A- A A+  

Pope challenges economics, globalisation

Bruce Duncan |  29 June 2018

Pope Francis has been relentless in his critique, indeed denunciation, of abuses in the international economy which are responsible for the Global Financial Crisis and its continuing unresolved consequences. He refers especially the growing inequality which he sees in Italy and much of Europe, destabilising governments and encouraging extreme nationalist movements.


He blames growing inequality and poverty in large part on major financial and transnational corporations and powerful special interests. These, he says, cloak their policies in an ideology that free markets will operate most efficiently with minimal regulation, thus giving little weight to moral issues of distribution or social consequences.
Francis at times speaks very strongly, in harsh terms. Before he was elected Pope, Cardinal Bergoglio had supervised the writing of the final report of The Aparecida Document following the meeting of the bishops of Latin America in May 2007. It embodied the key concerns of Bergoglio about neoliberalism, the concentration of wealth and power in the hands of a few, increasing inequality and marginalisation of the poor, and concern about global warming and the environment. Presciently it warned about the dangers in financial speculation, including in public bonds, currencies and derivatives.
It was no wonder that Pope Francis was able to quickly to issue The Joy of the Gospel in November 2013, since it expanded on the Aparecida Document with which he was so familiar. In Joy of the Gospel, he protests against “an economy of exclusion and inequality. Such an economy kills”. “Today everything comes under the laws of competition and the survival of the fittest, where the powerful feed upon the powerless.” (JG 53). “We have created new idols. The worship of the ancient golden calf… has returned in a new and ruthless guise in the idolatry of money” (JG 55).
In his full encyclical, Laudato Si’ in June 2015, Francis linked concern for the environment closely with the critique of “the ideology of the market”, though he does not use the word neoliberalism. He wrote that the financial crisis had exposed the corruption at the heart of the international financial system. (LS 56). He recognised that powerful special interests were making the rules in their own self-interest without considering the social impact and resulting inequality. (LS 109). He said the world could not solve its problems without “a development in human responsibility, values and conscience.” (LS 105).
Critics of Pope Francis
Some criticise Pope Francis for his outspoken views on economic policies, saying that economics is not his business, that he is mistaken in his economic critiques, and that he should refrain from entering political debates.
Francis replies that the Church does not claim to be an expert in the technical aspects of economics but insists that economics needs a moral compass to ensure it promotes the genuine wellbeing of all human beings and increasingly of the environment.
Read the full article here:

http://www.socialpolicyconnections.com.au/?p=13419&utm_source=social+policy+connections&utm_campaign=930f207520-SPC_Newsletter_dec2017_COPY_01&utm_medium=email&utm_term=0_28e2d8da4d-930f207520-441048673&ct=t(SPC_News_dec2017_COPY_01)

 


Similar articles

Civilisation beyond the con of neoliberalism

Andrew Hamilton | 30 June 2018

Denniss' most intriguing reason for not engaging with economic theory is that the interested parties have simply used it as a con in order to distract people from what is being done to them. It generates slogans like competition and small government, which, with the connivance of governments, corporations use to transfer resources to themselves at the expense of society, writes Andrew Hamilton for Eureka Street.


US bishops at Mexico border amid separation

Brian Roewe | 30 June 2018

A delegation of U.S. bishops will head to the nation's southern border Monday as national attention remains focused on the separation of immigrant families who have attempted to enter the country illegally, writes Brian Roewe for National Catholic Reporter.


Checking a partisan court

E J Dionne Jr | 30 June 2018

The US constitutional system of checks and balances works only if those in a position to work the levers of checking and balancing do their job. It seems a Republican Congress and Republican appointees to the Supreme Court have no taste for such work leaving the president unchecked, writes E J Dionne Jr for Commonweal Magazine.


Vatican blasts inequality – greed

Bruce Duncan | 06 June 2018

The Vatican has launched a stringent critique of widespread abuses in global economies, which are driving astonishing degrees of inequality, threatening ecological sustainability, and unleashing powerful reactionary political forces in response, as seen in parts of Europe and elsewhere.


Macron visits Ouvea on eve of anniversary

Radio New Zealand | 10 May 2018

The French president Emmanuel Macron has visited the island of Ouvea on the 30th anniversary of the bloody end of the 1988 hostage crisis