We all (probably) want to reduce poverty, but how do we actually go about doing that? Pope Francis has been extremely vocal about this problem, but many have taken issue with his suggested solutions.When describing modern capitalism, he’s used phrases like “globalización de la indiferencia” and “cultura del descarte” or a globalization of indifference and a throwaway culture. Beyond soundbites and one-liners, many are trying to get at the exact meaning of the Pope’s statements on economics and poverty.
During a recent trip to Buenos Aires, Acton’s director of research, Samuel Gregg, spoke to La Nacion’s Ramiro Pellet Lastra about these issues. Gregg states that the Pope’s very populist language when discussing economics and poverty suggests that he does not appear to have a clear understanding of how markets actually function. Like Pope Francis, Gregg sees the common good as very important but argues that this is compatible with free markets. In fact when you dispense with free markets and economic freedom in the name of the common good, as did Communist systems, it leads to even greater poverty. (more…)