Questions about poverty and social teaching are on the forefront of Pope Francis’ mind, as he’s made convincingly clear in his young papacy. This calls for cogent thinking on the topic, according to Fr. John Flynn, LC in “Francis and Catholic Social Teaching: Debates About Economy, Equality and Poverty Sure to Continue.”

Flynn cites Jerry Z. Muller, professor of History at the Catholic University of America, who gives credit to the astonishing “leap in human progress” that capitalism has brought about, but cautions that some find the disparity between rich and poor, the powerful and the dispossessed, to be grounds for anti-capitalist sentiment. Muller points out that this type of inequality seems to be growing internationally. Read more on Neither Worshipping Nor Demonizing Capitalism…

Over at the National Catholic Reporter, Michael Sean Winters makes some comments about my book Becoming Europe based on a review he had read by Fr. C.J. McCloskey. Here are the most pertinent of his observations:

I know that American exceptionalism lives on both the left and the right, but when did the right become so Europhobic? And why? National Catholic Register has a review of a new book by the Acton Institute’s Samuel Gregg entitled Becoming Europe: Economic Decline, Culture, & How America Can Avoid a European Future. I confess, come August, when Europeans sensibly take the month off and head to the beach or the mountains for time with their families, I am envious of them, not scornful. When I look at Europe’s lower rates of income inequality, I am envious, not scornful. When I look at the creative ways Germany minimized unemployment during the recent economic downturn, I was deeply envious.

Of course, given the fact that Gregg works for the libertarian Acton Institute, where the false god of the market is worshipped day in and day out, it should not surprise that he misses the Catholic and Christian roots of the modern social welfare state as it exists in Europe.  And the fact that Rev. C. John McCloskey misunderstands the Christian roots of the modern social welfare state shows the degree to which some members of the Catholic clergy have bought into what can best be described as the Glenn Beck narrative of the relationship of faith and culture.

Alas, Mr. Winters apparently hasn’t actually read the book. Because if he had, he would know that Becoming Europe (1) notes several good economic things happening in Europe (such as in Germany and Sweden) and (2) addresses at considerable length the various Catholic and Christian contributions to the development of European welfare states and the European social model more generally. In the case of the latter, I’d direct his attention to Chapters 2 and 3 of Becoming Europe where these matters are discussed extensively. The point is that it is always prudent to perhaps read a book before venturing criticisms of its arguments.

Then there is the label of “libertarian.” Again, if Mr. Winters took a moment to read a few of my writings, he’d know that, in books such as On Ordered Liberty, I‘ve articulated critiques of libertarian thought, especially with regard to the way that libertarian thinkers approach, for instance, moral questions. Figures such as Friedrich Hayek, Ludwig von Mises, and Milton Friedman have many interesting economic insights. But I have always viewed their philosophical positions (which include, among others, commitments to nominalism, epicurism, utilitarianism, social-evolutionism, and social contractarianism) to be less-than-adequate. In many ways, their conceptions of the human person are virtually indistinguishable from modern liberals such as John Rawls. Read more on Think (and Read) before You Blog: A Response to Michael Sean Winters…

Margaret Thatcher once told an interviewer, “Of course, I am obstinate in defending our liberties and our law. That is why I carry a big handbag.” During her time as Prime Minister, Thatcher’s handbag became an iconic symbol of her ability to handle opponents. The term “handbagging” even entered the Oxford English Dictionary (the verb “to handbag” is defined as: (of a woman politician), treat (a person, idea etc) ruthlessly or insensitively) to describe her rhetorical style.

Thatcher’s handbagging usually occurred during Question Time, the hour every day when members of the parliament ask questions of government ministers—including the prime minister—which they are obliged to answer. A prime example is in her last appearance as Prime Minister in the House of Commons, on November 22, 1990. Liberal Democrat MP Simon Hughes taunts her on the subject of income inequality.
Read more on What Margaret Thatcher Understood About Income Inequality…

A recent national Pew Research Center survey has found conflicting opinions regarding many Americans’ view of the rich:

As Republicans gather for their national convention in Tampa to nominate a presidential candidate known, in part, as a wealthy businessman, a new nationwide Pew Research Center survey finds that many Americans believe the rich are different than other people. They are viewed as more intelligent and more hardworking but also greedier and less honest.

Read more on What Causes Wealth (and Dishonesty and Greed)?…

Income inequality has been around as long as humans have had incomes, yet over the past year it has been presented as one of our economy’s greatest injustices. With so much shoddy zero-sum reasoning being presented, it’s refreshing to find an economist who can apply both sound economic and Biblical thinking to the topic.

Anne Bradley, Vice President of Economic Initiatives at the Institute for Faith, Work & Economics, has a blog series summarizing her research report, “Why Does Income Inequality Exist? An Economic and Biblical Explanation” In her latest post, Bradley explains what the Bible has to say about income inequality: Read more on What Does the Bible Say About Income Inequality?…

Over on First Things, Michael W. Hannon, David J. Pederson, and Peter A. Blair write about the injustices of inequality. In many parts of their short article they had me nodding in agreement. But as with much that is written about income and wealth inequality, the article makes assertions that seem to have no basis in economic reality. For instance, the authors seem to claim that income inequality leads to power inequality which “harms civic friendship.”
Read more on The Income Inequality We Ignore…

“Charity rejoices in our neighbor’s good,” said Thomas Aquinas, “while envy grieves over it.” Unfortunately, grieving over our neighbor’s good has become a dominant part of recent economic discussions (“income inequality,” the “Buffett rule,” the “99%”).

Journalist Matt Lewis recently talked to talked to Dr. Victor V. Claar about the rise of envy in economics. You can listen to the audio below.
Read more on Envy and Economics…

Over at National Review Online, Acton Research Director Samuel Gregg takes a look at a recent Charles Blow op-ed in the New York Times in which the writer hyperventilates about statements made by Rick Santorum on the subject of income inequality.

Read more on Samuel Gregg: Inequality Anyone?…

An interesting report in The Economist on the rise of flashy and free spending entrepreneur “gazillionaires” in India and China and how they are perceived:

In much of India, life is getting perceptibly better each year. Wealth per person has vaulted by 150% in the past decade, from $2,000 to $5,000. Many Indians think the nation’s entrepreneurs deserve some of the credit. In Dharavi, a slum outside Mumbai, an illiterate mother called Aruna sits in her tiny one-room flat, which is home to ten people. Asked how she feels about the rich, she says: “They have worked hard. And we must work hard, too.” Her eldest daughter has a job entering data at a bank. The next one is studying diligently. The family may be near the bottom of the ladder, but it sees a way up.

Read more on What Indians and Chinese make of their tycoons…

In the “Wealth Inequality Mirage” on RealClearMarkets, Diana Furchtgott-Roth looks at the campaign waged by “levelers” who exaggerate and distort statistics about income inequality to advance their political ends. The gap, she says, is the “main battle” in the Nov. 2 election. “Republicans want to keep current tax rates to encourage businesses to expand and hire workers,” she writes. “Democrats want to raise taxes for the top two brackets, and point to rising income inequality as justification.”

Read more on The Main Battle…