Posted on 10/10/2020 10:15:23 AM PDT by EBH
“The story did not end the way it was meant to,” Pope Francis wrote recently, deftly excommunicating about a half-century’s worth of economic ideology.
In a striking, 43,000-word-long encyclical published last Sunday, the pope put his stamp on efforts to shape what's been termed a Great Reset of the global economy in response to the devastation of COVID-19.
The “story” he’s referring to is neoliberalism, a philosophy espousing austerity, privatization, deregulation, unbridled markets, and relatively weak labour laws. While it’s been faithfully told through innumerable economists and policy-makers since the 1970s, and put into practice in prominent ways, the pope believes this tale has now worn thin. He is not alone.
Neoliberalism’s free-market orthodoxy has been blamed for making health care systems and livelihoods especially vulnerable to the pandemic, and has drawn a clearer line under the need for active government intervention.
Pope Francis criticizes the “dogma of neoliberal faith” in his encyclical, adding that “the fragility of world systems in the face of the pandemic has demonstrated that not everything can be resolved by market freedom.” He advocates for a political life not subject to the “dictates of finance,” and for making human dignity the focus of new, “alternative social structures.”
The encyclical comes as many countries have seen new surges in coronavirus cases, and as the economic fallout continues to disproportionately affect frontline workers and the poor. Lower-middle income countries have been hit with the sharpest declines in working hours and labour income since the pandemic began, and an estimated 96 million people may now be pushed into extreme poverty by next year.
(Excerpt) Read more at weforum.org ...
He is a communist one can not trust a thing he has to say.
Go back to your socialist utopia Frank. Popedom has fallen pretty dang far eh?
Until this buffoon parts with some of the Vatican’s trillions to set the example, he has no business telling nations how to run an economy. Priests are notoriously uneducated on economics, relying entirely on handouts to fund their programs.
The Vatican’s inability to manage its own finances disqualifies the Pope from global economic advice.
A healthy and prosperous economy is the best policy to help the poor and disadvantaged.
“In a striking, 43,000-word-long encyclical (thus guaranteeing that no one will read it) published last Sunday, the pope put his stamp on efforts to shape what’s been termed a Great Reset of the global economy in response to the devastation of COVID-19.”
If you cannot teach with clarity and brevity, you either cannot teach or are deliberately trying to hide what you are saying in the multitude of your words.
“Just open the Book and read the directions - its that simple.”
“What Book, Frankie?”
“The koran.”
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.