Categories: Politics

Pope Francis is the Wrong Person of the Year

“Today everything comes under the laws of competition and the survival of the fittest, where the powerful feed upon the powerless. As a consequence, masses of people find themselves excluded and marginalized: without work, without possibilities, without any means of escape.”

— Pope Francis, Evangnelli Gaudium (2013)

Time magazine should have named Edward Snowden “Person of the Year” for his heroic action to expose the excesses of the U.S. government’s surveillance of Americans.

Instead they gave it to Pope Francis, the first non-European Pope in 1,200 years, for his outreach to minorities, the healing of the poor and his attacks on capitalism.

Unfortunately, the new Pope from Argentina appears to be a devout follower of the Marxist doctrine of “Liberation Theology,” which blames free-market capitalism rather than government interventionism for the ills of the world. Yet it is precisely capitalism that has liberated millions in Asia and Latin America from poverty, as the World Bank has documented.

Alberto Benegas Lynch, a highly respected economist from Argentina, responds to the Pope’s attack with the following:

“The values and principles of a free society do not kill. What annihilates is the statism that has been in force for a long time now. It is important to cite the commandment “Thou shalt not kill,” but one must also remember “Thou shalt not steal” and “Thou shalt not covet thy neighbor’s goods.” In this sense, I consider the Pope’s advice, based on a quote from St. John Chrysostom, especially dangerous when the pontiff writes, “I encourage financial experts and political leaders to ponder the words of one of the sages of antiquity: ‘Not to share one’s wealth with the poor is to steal from them and to take away their livelihood. It is not our own goods which we hold, but theirs.’”

So now capitalists are thieves if they don’t give away their wealth to the poor? Sounds like Marxism to me. It would be better for capitalists to hire the poor. The working poor are far better off than the poor living on welfare.

In case you missed it, I encourage you to read my e-letter column about the best way you can get rich that appeared last week in Eagle Daily Investor. I also invite you to comment in the space provided below my Eagle Daily Investor commentary.

Mark Skousen

Mark Skousen, Ph. D., is a professional economist, investment expert, university professor, and author of more than 25 books. He earned his Ph. D. in monetary economics at George Washington University in 1977. He has taught economics and finance at Columbia Business School, Columbia University, Grantham University, Barnard College, Mercy College, Rollins College, and is a Presidential Fellow at Chapman University. He also has been a consultant to IBM, Hutchinson Technology, and other Fortune 500 companies. Since 1980, Skousen has been editor in chief of Forecasts & Strategies, a popular award-winning investment newsletter. He also is editor of four trading services, Skousen TNT Trader, Skousen Five Star Trader, Skousen Home Run Trader, and Skousen Fast Money Alert. He is a former analyst for the Central Intelligence Agency, a columnist to Forbes magazine (1997-2001), and past president of the Foundation for Economic Education (FEE) in New York. He has written articles for The Wall Street Journal, Liberty, Reason, Human Events, the Daily Caller, Christian Science Monitor, and The Journal of Economic Perspectives. He has appeared on ABC News, CNBC Power Lunch, CNN, Fox News, and C-SPAN Book TV. In 2008-09, he was a regular contributor to Larry Kudlow & Co. on CNBC. His economic bestsellers include “Economics on Trial” (Irwin, 1991), “Puzzles and Paradoxes on Economics” (Edward Elgar, 1997), “The Making of Modern Economics” (M. E. Sharpe, 2001, 2009), “The Big Three in Economics” (M. E. Sharpe, 2007), “EconoPower” (Wiley, 2008), and “Economic Logic” (2000, 2010). In 2009, “The Making of Modern Economics” won the Choice Book Award for Outstanding Academic Title. His financial bestsellers include “The Complete Guide to Financial Privacy” (Simon & Schuster, 1983), “High Finance on a Low Budget” (Bantam, 1981), co-authored with his wife Jo Ann, “Scrooge Investing” (Little Brown, 1995; McGraw Hill, 1999), and “Investing in One Lesson” (Regnery, 2007). In honor of his work in economics, finance, and management, Grantham University renamed its business school “The Mark Skousen School of Business.” Dr. Skousen has lived in eight nations, and has traveled and lectured throughout the United States and 70 countries. He grew up in Portland, Ore. He and his wife, Jo Ann, and five children have lived in Washington, D.C.; Nassau, the Bahamas; London, England; Orlando, Fla.; and New York. For more information about Mark’s services, go to http://www.markskousen.com/