Pope says free market, ‘trickle-down’ policies fail society | Malay Mail

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VATICAN CITY, Oct 5 — Pope Francis said yesterday 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,...

Pope Francis repeated past calls for redistribution of wealth to help the poorest and for fairer access to natural resources by all. — Vatican Media handout via Reuters

Called “Fratelli Tutti” , the encyclical’s title prompted criticism for not using inclusive language after it was announced last month. The pope took direct aim at trickle-down economics, the theory favoured by conservatives that tax breaks and other incentives for big business and the wealthy eventually will benefit the rest of society through investment and job creation.

Francis repeated past calls for redistribution of wealth to help the poorest and for fairer access to natural resources by all. Some ultra-traditionalist Catholics have accused Francis of secretly backing a perceived plot for a “One-World Government,” a debunked conspiracy theory.

 

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Pope prefers socialist or Communist economic policies? No wonder CCP is now Vatican’s best pal. Pope has also broke a 70-year old deadline by kowtowing to CCP’s demand on appointing Bishops approved by Beijing. Unbelievable.

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