Monday, October 5, 2020

Pope Francis says coronavirus pandemic has further exposed capitalism’s flaws

Belief in markets as all but infallible has been exposed as a ‘magic theory,’ the pontiff argues in ‘Brothers All’ encyclical issued on feast day of St. Francis of Assisi.

Pope Francis waves during the noon prayer delivered from his studio window overlooking St. Peter's Square on Sunday. ASSOCIATED PRESS

Associated Press

ROME (AP) — Pope Francis says the coronavirus pandemic has proven that the “magic theories” of market capitalism have failed and that the world needs a new type of politics that promotes dialogue and solidarity and rejects war at all costs.

Francis on Sunday laid out his vision for a post-COVID world by uniting the core elements of his social teachings into a new encyclical aimed at inspiring a revived sense of the human family. “Fratelli Tutti” (Brothers All) was released on the feast day of his namesake, the peace-loving St. Francis of Assisi.

The document draws its inspiration from the teachings of St. Francis and the pope’s previous preaching on the injustices of the global economy and its destruction of the planet and pairs them with his call for greater human solidarity to confront the “dark clouds over a closed world.”

In the encyclical, Francis rejected even the Catholic Church’s own doctrine justifying war as a means of legitimate defense, saying it had been too broadly applied over the centuries and was no longer viable.  Read more >>