This is from the Papal Encyclical that was published today. I'm not a Catholic, but this is worthy of note, and for more reason than the fact that it's been said;
168. The marketplace, by itself, cannot resolve every problem, however much we are asked to believe this dogma of neoliberal faith. Whatever the challenge, this impoverished and repetitive school of thought always offers the same recipes. Neoliberalism simply reproduces itself by resorting to the magic theories of “spillover” or “trickle” — without using the name — as the only solution to societal problems. There is little appreciation of the fact that the alleged “spillover” does not resolve the inequality that gives rise to new forms of violence threatening the fabric of society. It is imperative to have a proactive economic policy directed at “promoting an economy that favours productive diversity and business creativity”[140] and makes it possible for jobs to be created and not cut. Financial speculation fundamentally aimed at quick profit continues to wreak havoc. Indeed, “without internal forms of solidarity and mutual trust, the market cannot completely fulfil its proper economic function. And today this trust has ceased to exist”.[141] The story did not end the way it was meant to, and the dogmatic formulae of prevailing economic theory proved not to be infallible. The fragility of world systems in the face of the pandemic has demonstrated that not everything can be resolved by market freedom. It has also shown that, in addition to recovering a sound political life that is not subject to the dictates of finance, “we must put human dignity back at the centre and on that pillar build the alternative social structures we need”.[142]
169. In some closed and monochrome economic approaches, for example, there seems to be no place for popular movements that unite the unemployed, temporary and informal workers and many others who do not easily find a place in existing structures. Yet those movements manage various forms of popular economy and of community production. What is needed is a model of social, political and economic participation “that can include popular movements and invigorate local, national and international governing structures with that torrent of moral energy that springs from including the excluded in the building of a common destiny”, while also ensuring that “these experiences of solidarity which grow up from below, from the subsoil of the planet — can come together, be more coordinated, keep on meeting one another”.[143] This, however, must happen in a way that will not betray their distinctive way of acting as “sowers of change, promoters of a process involving millions of actions, great and small, creatively intertwined like words in a poem”.[144] In that sense, such movements are “social poets” that, in their own way, work, propose, promote and liberate. They help make possible an integral human development that goes beyond “the idea of social policies being a policy for the poor, but never with the poor and never of the poor, much less part of a project that reunites peoples”.[145] They may be troublesome, and certain “theorists” may find it hard to classify them, yet we must find the courage to acknowledge that, without them, “democracy atrophies, turns into a mere word, a formality; it loses its representative character and becomes disembodied, since it leaves out the people in their daily struggle for dignity, in the building of their future”.[146]
Para 168 is powerful.
Para 169 is radical.
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There is a lot of very interesting Catholic Social Doctrine, for example Distributism – 5 acres and a cow (Not really enough for a cow but thats another story)
Catholic schools and colleges need to be careful not to encourage students to read or take notice of this encyclical otherwise they will fall foul of the government’s latest ban on anti-capitalist teaching.
@ Bill Hughes
Ah yes but the government hasn’t defined what counts as “capitalist teaching!” I’m sure the Supreme Court would throw it out as none of their business or beyond their jurisdiction!
This is typical of the thinking of that hopelessly inept team Gove and Cummings!
So is Paragraph 172 given that global trading policing by the WTO has collapsed and therefore obviously pertinent to Brexit where there appears to be very little understanding of this global context by Brexiters.
Agreed
Definition of Trickle Down Economics:
The horse-and-sparrow theory: If you feed the horse enough oats, some will pass through to the road for the sparrows.
Absurd article by the Pope. The opening phrase is “The marketplace, by itself, cannot resolve every problem…”. Well who ever said it did?
As for the idea in the next sentence but one, namely that trickle down does not resolve inequality, again, who ever said it did?
The Pope should stick to Gods, Devils, Angels and the other bizarre supernatural beings be believes in.
Actually, it’s taught every day in most universities
Please don’t deny what actually happens
As absurd as you say the Pope’s comments are; your comments are equally absurd and don’t reflect reality.
You are either deaf or just haven’t listened to ‘mainstream’ economists and the politicians who use their ‘theories’ to justify their ‘targeted’ spending since Thatcher’s day and probably before.
You are right when you say, ‘trickly down’ doesn’t work as evidenced by the growing economic inequality we see in society. It results in the main from the dogma already questioned above regarding the marketplace with little of the targeted spending trickling down
Much of it squirrelled away offshore doing very little to help boost the economy.
I’m very impressed with this and I hope that the Catholic church’s efforts to root out child abuse is going well too.
Their agenda is rather full… don’t wait up.
Also, the Vatican’s accountants may be too busy to read what Francis writes, so don’t wait up for tax returns either.
🙂
I think that comment is beneath you, PSR. The fact of the matter is such despicable crimes happen throughout society, unfortunately. Yes, I am Catholic.
https://www.theguardian.com/world/2020/oct/06/c-of-e-bishops-should-lose-responsibility-for-safeguarding-children-says-inquiry
I’m sure Mr Rees-Mogg will take it to heart, the good Catholic he is (not).
🙂
Rees-Mogg is more a doctrinaire catholic than a pragmatic one!
‘Rees-Mogg is more a doctrinaire catholic than a pragmatic one!’
A man who knows the cost of everything but the value of nothing, though he is conceited enough to think he does. Oh, and he’s a Tory – of course.
Probably the first Pope for a very long while with any grasp of what real life is like.
Also pleased he has refused an audience with Pompeo.
The Vatican is about the most corrupt and immoral bastion you could imagine. Why would anyone seriously listen to it unless you are a devout blinkered catholic?
‘Also pleased he has refused an audience with Pompeo.’
Me too! If anyone knows the power of a symbolic act it’s the Pope 🙂
Joking aside, as a lapsed Catholic, I have to say I have a significant regard for Papa Francis.
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