Pope Denounces Trickle-Down Economics

POPE FRANCIS SMILE WEARING GLASSES-170x112From TPM…Pope Denounces Trickle-Down Economics ‘Which Has Never Been Confirmed By The Facts’

Igor Bobic – November 26, 2013, 12:48 PM EST278

In his first encyclical released on Tuesday, Pope Francis laid out a broad mission statement which restated the church’s opposition to abortion but also emphasized what it can do for the poor and oppressed trapped in a world of growing income inequality.

“It is no longer simply about exploitation and oppression, but something new,” the pontiff wrote in the 85-page document. “Exclusion ultimately has to do with what it means to be a part of the society in which we live; those excluded are no longer society’s underside or its fringes or its disenfranchised – they are no longer even a part of it. The excluded are not the ‘exploited’ but the outcast, the ‘leftovers’.

The pope also denounced “trickle-down” theories of economics promoted by many conservatives and politicians who espouse an unregulated free market.

“In this context, 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,” he said. “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. Meanwhile, the excluded are still waiting.”

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: