Saturday, November 30, 2013

Pope Francis: Liberals love his 'trickle-down' takedown --- Pope Francis made headlines on Tuesday when he called on the Catholic Church to be more decentralised and to focus on missionary outreach and helping the poor - a recurring theme of his first eight months as pope. Few probably expected the pontiff to take a shot at supply-side economics and "trickle-down theories" by name, however. -- In his "apostolic exhortation", Pope Francis wrote: -- Some people continue to defend trickle-down theories which assume that economic growth, encouraged by a free market, will inevitably succeed in bringing about greater justice and inclusiveness in the world. This opinion, which has never been confirmed by the facts, expresses a crude and naive trust in the goodness of those wielding economic power and in the sacralised workings of the prevailing economic system. Meanwhile, the excluded are still waiting. -- Needless to say, this has liberal commentators buzzing. An anti-supply-side pope? What would Ronald Reagan and Margaret Thatcher think? - More, Anthony Zurcher - BBC

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