EG 56: Lawlessness in the Markets

Vasnetsov_Maria_MagdalenePeople talked about it before Pope Francis wrote about it in Evangelii Gaudium here:

56. While the earnings of a minority are growing exponentially, so too is the gap separating the majority from the prosperity enjoyed by those happy few. This imbalance is the result of ideologies which defend the absolute autonomy of the marketplace and financial speculation. Consequently, they reject the right of states, charged with vigilance for the common good, to exercise any form of control. A new tyranny is thus born, invisible and often virtual, which unilaterally and relentlessly imposes its own laws and rules.

How many of us can claim “too big to jail,” and expect to escape consequences? I suppose it would be one thing if corporations were robin hooding it. But they have a hard, and sometimes a successful, sell to suggest the poor get their pennies from heaven. With big media behind big corporations, it can get accomplished, especially if competing voices are drowned out.

Debt and the accumulation of interest also make it difficult for countries to realize the potential of their own economies and keep citizens from enjoying their real purchasing power.

It harmed Haiti as much as any earthquake.

Fetish or idolatry? Maybe a good bit of both:

To all this we can add widespread corruption and self-serving tax evasion, which have taken on worldwide dimensions. The thirst for power and possessions knows no limits. In this system, which tends to devour everything which stands in the way of increased profits, whatever is fragile, like the environment, is defenseless before the interests of a deified market, which become the only rule.

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About catholicsensibility

Todd and his family live in Ames, Iowa. He serves a Catholic parish of both Iowa State students and town residents.
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