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POPE COULD BENEFIT FROM AN ECONOMICS LESSON: Calls Capitalism the ‘Dung of the Devil’

Speaking to audiences in South America, Pope Francis defined the economic challenge of this era as the failure of global Capitalism to create fairness, equity and dignified livelihoods for the poor. . . .  Amazingly, Francis’ increasingly sharp and disgusting critique comes as much of humanity has never been so wealthy or so well fed. (New York Times)
Frankly, as a Christian, I find this kind of ill-advised, leftist, pontificating most disturbing and grossly inaccurate.  The only economic system that has worked for the people at large, for any length of time, is competitive, free-market, free-enterprise, Constitutional  Capitalism.   
South America has been controlled by dictators, autocratic-socialists and/or quasi-communists for decades.  These approaches have never worked for the people.  They function contrary to the instincts of mankind and natural law.  Preaching against Constitutional Capitalism, when it is South America’s best hope, makes little or no sense. 
The Pope’s apparent endorsement of Socialistic ideology – and his disgusting condemnation of Capitalism – are disappointing and seriously out-of-date.
Francis obviously needs to study economic history, which clearly demonstrates that the keys to a flourishing economy; plentiful, good-paying jobs; and individual prosperity for the greatest number – is a competitive, free-market, free-enterprise, entrepreneurial, innovative, personal-initiative, profit/surplus-motivated, law-and-order economy – where companies and enterprises exist, and people work to meet the needs, wants and expectations of their stakeholders, i.e., their customers, employees, suppliers, communities, creditors and investors – in that order of priority. 
And this must be accomplished at a profit or financial-surplus (for so called non-profits) sufficient to support the ongoing and balanced needs of a nation’s enterprises – sufficient to provide investors and creditors with an attractive return on their investments in the economy – and adequate to offset the implicit risks of supporting the financial needs of its businesses. 
Free market, Competitive Capitalism is a time-tested, proven, economic discovery that works – based on freedom, natural law, private property, and the private ownership of the means of production and distribution of goods and services – characterized by free competitive markets, motivation by profit or surplus, and safety nets for those who cannot care for themselves. 
In a Socialistically oriented economy, many of these functions and forces are taken over by self-serving government bureaucrats, complacent job-fillers, and career politicians – who can’t possibly provide the collective wisdom, experience and motivation of liberated businesspersons, entrepreneurs, innovators and workers – operating in a competitive, free-enterprise, entrepreneurial, profit/surplus-motivated, sky’s-the-limit, economy.
Frankly, Pope Francis needs to learn these things if he is going to travel the world pontificating economic philosophy for the betterment of humankind. 
In God we must trust . . . but we must always do our part – to secure and promote the truth and a better way – to protect our freedom and interests – and to defend the Judeo-Christian American-Way.    


William Pauwels

William A. Pauwels, Sr. was born in Jackson Michigan to a Belgian, immigrant, entrepreneurial family. Bill is a graduate of the University of Notre Dame and served in executive and/or leadership positions at Thomson Industries, Inc., Dow Corning, Loctite and Sherwin-Williams. He is currently CIO of Pauwels Private Investment Practice. He's been commenting on matters political/economic/philosophical since 1980.

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