A Blunt Pope Francis Targets Free Market Economics

Photo Credit: breitbartSince taking over as head of the Roman Catholic Church in March, Pope Francis has made several stark comments on world economic issues: He’s cited the pitfalls of capitalism, decried global income inequality and equated low-wage labor to a form of “slavery.”

He’s even described the financial corruption in the church he leads as a “spiritual sickness.”

Analysts say Pope Francis—leader of some 1.2 billion Catholics—is not necessarily calling for the demise of free market theory. Instead, he’s issuing a very strong warning to economic leaders over its future.

“Like many people he thinks capitalism won’t survive unless it decreases income disparity,” said George Haley, professor of marketing and international business at the University of New Haven.

“I think it’s fair to say he’s arguing for a more European version of capitalism going forward, especially after the Great Recession, so there’s more of a safety net for people when they need it,” Haley added.

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