Pope says free market, 'trickle-down' policies fail society

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Pope Francis said on Sunday that the COVID-19 pandemic was the latest crisis to prove that market forces alone and "trickle-down" economic policies had failed to produce the social benefits their proponents claim. In an encyclical on the theme of human fraternity, Francis also said private

VATICAN CITY - Pope Francis said on Sunday that the COVID-19 pandemic was the latest crisis to prove that market forces alone and"trickle-down" economic policies had failed to produce the social benefits their proponents claim.

In Italian, Fratelli means brothers but it is also used to mean brothers and sisters. The Vatican said it was taken from the"Admonitions", or guidelines, written by St Francis of Assisi in the 13th century to his followers and could not be changed. "There were those who would have had us believe that freedom of the market was sufficient to keep everything secure ," he wrote.

"The right to private property can only be considered a secondary natural right, derived from the principle of the universal destination of created goods," he said.The pope wrote that the belief of early Christians -"that if one person lacks what is necessary to live with dignity, it is because another person is detaining it" - was still valid.

Without naming countries or people, Francis condemned politicians who"seek popularity by appealing to the basest and most selfish inclinations" or who enact policies of"hatred and fear towards other nations".

 

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