This wise and welcome counsel, however, gets lost in loose talk about redistribution schemes and global governance. The encyclical seeks support for poor countries “by means of financial plans inspired by solidarity.” It calls for “a worldwide redistribution of energy resources.” It envisions the “large-scale redistribution of wealth on a worldwide scale.” How do Biblical teachings on justice and charity support these goals? Does political prudence suggest they should be attempted? We are not told. Neither is there enough attention to the great obstacles to economic development—political oppression, corruption, bad governance, illiteracy, disease, and war. All told, the redistribution of wealth gets far more papal ink than the creation of wealth.
The encyclical eventually drifts into the realm of fantasy.
Posted by Steve S at 5:16 PM
Making a muddle of the markets: