At The Stream, Acton Institute Research Director Samuel Gregg does a crime scene investigation of Bernie Sanders’ take on Pope John Paul II’s Centesimus Annus encyclical. You might never guess, by listening to the Democrat presidential candidate, that John Paul actually had some positive things to say about the market economy. Gregg says that Sanders’ recent appearance at a Vatican conference “will be seen for what it is: grandstanding by a left-wing populist candidate for the American presidency.” Aside from that, there are Sanders’ “contestable” economic assertions:
In the first place, Sanders didn’t acknowledge just how much the encyclical being discussed by the conference, Saint John Paul II’s 1991 Centesimus Annus, underscored the positive role of free markets as well as limits on what the government can and should do in the economy. To be sure, Centesimus Annus is not a Catholic version of Milton Friedman’s Free to Choose. But as I observed prior to the speech, Centesimus Annus contains some of the papacy’s strongest endorsements of the market economy and some of Catholicism’s most powerful critiques of not just socialism but also welfare states. None of these commendations or criticisms were referenced in Sanders’ address.
More generally, some of the claims made by Sanders about inequality are very contestable. His address referred, for instance, to “the widening gaps between the rich and poor.” This, however, doesn’t reflect the evidence of what’s happening to global economic inequality. In terms of global income, for instance, the most widely utilized assessment of income distribution, the Gini coefficient, went from 0.69 in 1988 to 0.63 in 2011. That matters, because a lower Gini coefficient indicates falling inequality.
Nor does Sanders seem aware of the sheer numbers of people who have escaped absolute poverty in Asia, especially India and China, over the past forty years. In 2010, for example, the Asian Development Bank stated that per capita GDP increased 6 percent each year in developing Asian nations between 1990 and 2009. According to the same report, about 850 million people escaped absolute poverty between 1990 and 2005.
Read “Bernie Visits the Vatican, and Misrepresents Pope John Paul II” by Samuel Gregg at The Stream.