Wednesday, July 8, 2009

Papal encyclical "a willful disregard for economic history"

As expected Pope Benedict has delivered an encyclical that Terence Corcoran says:

... catches the anti-capitalist waves now washing over the globe's political classes.

... sweeping 140-page collection of sound bites and instant quotations that will be used by all and sundry as another authority for condemning free markets, globalization, big business, finance, outsourcing, capitalism, copyright law, greed, climate change, energy consumption, etc.

... In Pope Paul's. encyclical [Paul VI, 1967] written when half the world was under Communist dictatorship, not a word was said of problems with Marxism. Still, Benedict explicitly aims to take up Pope Paul's tedious stereotypical message from Populorum Progressio. ... as foundation for a renewal of the old leftist attacks on business, markets and capitalism.

... 159 [footnotes], but none support the big economic analyses and factual claims that make up most of the encyclical.

... Benedict dashes off .. unsupported statements by the hundreds. ... It dismisses "so-called outsourcing"; ... On the current economic crisis - adopts the idea that Big Government is the answer. ..."The technologically advanced societies can and must lower their domestic energy consumption."; "... excessive zeal for protecting knowledge through an unduly rigid assertion of the right to intellectual property ..."

... What Benedict's encyclical betrays, most of all, is a willful disregard for economic history and the massive benefits of free markets and globalization.

... After 40 years of dramatic gains in global wealth expansion, after an explosion of living standards and productivity capability around the world, after four decades of free trade and markets that have turned much of the world into bastions of progress, along comes Benedict with a call to turn the clock back.

As Hunter said: "Dear Pope, Butt Out". Unfortunately, he didn’t.

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