Church teaching on personal freedom includes a moral imperative to work and share
Andrew P. Napolitano
The Washington Times
12/4/2013
…His encyclical, titled “Joy of the Gospel,” attacks free-market capitalism because it takes too long for the poor to get rich. “They are still waiting,” the pope wrote. Without capitalism, which rewards hard work and sacrifice, they will wait forever. No economic system in history has alleviated more poverty, generated more opportunity and helped more formerly poor people become rich than capitalism. The essence of capitalism goes to the core of Catholic teaching: the personal freedom of every person. Capitalism is freedom to risk, freedom to work, freedom to save, freedom to retain the fruits of one’s labors, freedom to own property and freedom to give to charity.
The problem with modern capitalism — a problem that escaped the scrutiny of His Holiness — is not too much freedom, but too little. The regulation of free markets by governments, the control of the private means of production by government bureaucrats, and the unholy alliances between governments, banks and industry have raised production costs, stifled competition, established barriers to entry into markets, raised taxes, devalued savings and priced many poor out of the labor force. The pope would do well to pray for those who have used government to steal freedom so as to satisfy their lust for power, and for those who have bowed to government so as to become rich from governmental benefits and not by the fruits of their own labors…
The complete article is at The Washington Times.
Update: Judge Napolitano: Pope Francis and basic economics.
Update 2: What the Pope Gets Wrong About Capitalism
