The fact that the Pope picked “trickle-down” economic theories to attack was revealing, because no economist ever promoted such a thing. It was a term, like “tax cuts for the rich,” invented by big government opponents of market freedom to deliberately misrepresent it.
The reality is that when people, however rich or poor, advance their interests through voluntary arrangements, they benefit those they deal with. This is done by providing opportunities others find better than their alternatives, and those improved opportunities increase others’ real wealth..
.. as Arthur Seldon put it, “capitalism is the instrument which people in all societies … use to escape from want and enrich one another by exchange.”
When the rich get richer by rigging the political process, that is objectionable, but it is not a market failure. It is a government failure ..
It is true that the crony capitalism we see all around us, which is far closer to fascism than capitalism, is unjust. Pope Francis is right to criticize such injustice. But private property, the basis of capitalism, prevents rather than enables the “dog eat dog” “survival of the fittest” competition that capitalism’s attackers accuse it of.
Pope Francis is clearly compassionate ... As a Catholic, I sincerely applaud his efforts. He is right to object to much that he sees in the world around him. But what he objects to is not, in fact, caused by capitalism. It is caused by its crony capitalist caricature, which is a form of government control, not the individual self-determination enabled by capitalism. The confusion in Evangelii Gaudium is highly problematic. Spurred by this document, politicians may, in trying to “fix” capitalism, which is a massive economic blessing rather than the problem, turn to the transfer of even more individual choice to government diktat, resulting in even more crony capitalism. It would eviscerate the widespread benefits of capitalism, and in turn, harm the very people Francis wishes to protect.A acrescentar que o Papa não está só a confundir o mercado-livre com fascismo económico (tal como visto do lado dos "privados"); está a defender fascismo económico (mais poder aos "públicos"). Vergonha.