Pope Francis rips capitalism and trickle-down economics to shreds in new policy statement In case there was any doubt left, Pope Francis made it clear that he shares little in common with U.S. conservatives Pope Francis rips capitalism and trickle-down economics to shreds in new policy statement. He also launched a broadside against former President Ronald Reagan’s signature economic theory, which continues to serve as conservative Republican dogma. “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,” Pope Francis wrote. 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.” The thirst for power and possessions knows no limits.
Posted on: Thu, 28 Nov 2013 17:19:22 +0000