Archive for enero, 2013

Papal Judgement Gives Way to Urban Myths about Economic Realities

Sábado, enero 5th, 2013

Pope Benedict XVI delivered his message for peace day that included a call for a new economic model & “ethical regulations” of markets.

His competence as a biblical scholar & an expert on Church doctrine is unquestioned. But one has to wonder if he has read any reports from the late 20th Century up to now…?

Has he not heard of the failed social experiments with the welfare state that have crippled economies across Europe & threaten to do the same for the US economy…?

His comments show that he accepts the canard that the global financial crisis offers evidence of the failure of capitalism. Equally troubling, he suggested that markets do not protect the weakest members of the community.

In his missive, Pope Benedict issued a condemnation of something that the world has never known, “unregulated capitalism”.

He also denounced “the prevalence of a selfish & individualistic mindset which also finds expression in an unregulated capitalism, various forms of terrorism & criminality”.

But the most systematic source of injustice & evil throughout history has always been enforced by the coercive force of governments. As it is, more than 250 million souls perished due to democide, genocide & war over the 20th Century.

Those that believe that governments are at the mercy of capitalism should see that the answer is to reduce what governments can do.