Wanted to share an article from U.S. Catholic with you. Let me know what you think. The Rev. Martin Schlag is a trained economist as well as a Catholic moral theologian, and when he first read some of Pope Francis’ powerful critiques of the current free market system he had the same thought a lot of Americans did: “Just horrible.”
But at a meeting in May, Schlag, an Austrian-born priest who teaches economics at an Opus Dei-run university in Rome, reassured a group of Catholics, many from the world of business and finance, that Francis’ views on capitalism aren’t actually as bad as he feared.
“You can get the impression that the pope is against capitalism,” said Schlag, who heads the Markets, Culture and Ethics Research Centre at the Pontifical University of the Holy Cross, located near the Vatican.
But he explained that what Francis—the first Latin American pope—understands as capitalism is in fact the “crony capitalism” that is found in the pontiff’s native Argentina and much of Latin America. Schlag defined “crony capitalism” as “a form of capitalism where people get rich not because of their work but because of their friendships and political connections and the privileges they have.”
That is quite different from the American system, he said. “Does the pope understand the United States? I think he doesn’t know the United States,” said Schlag, who is also an adviser to the Vatican department that deals with social and economic issues.
Schlag said he believes that the pontiff’s Sept. 22–27 visit to the U.S., his first to the country, will be an opportunity for Francis to learn more about America and to appreciate the positive aspects of what Schlag said is the most successful economy in history.
Born during the turbulent era of the French Revolution, Saint Jeanne Jugan rose above hardship and a lack of formal schooling to become a profound vessel of Christ’s mercy. After losing her father at a young age and working through her youth as a kitchen maid and nurse, her life radically changed one freezing night when she encountered a blind, paralyzed elderly woman with nowhere to go. Jeanne carried the woman back to her own home, placed her in her own bed, and began a lifelong mission of radical hospitality. This act of profound love blossomed into the Little Sisters of the Poor , a thriving community dedicated to sheltering and honoring the destitute elderly. Despite later facing heavy trials—including being unjustly sidelined and stripped of her leadership by a controlling chaplain—Jeanne accepted her obscurity and exile with a joyful spirit, resting her complete trust in God's hidden providence until her death in 1879. In our daily lives, Saint Jeanne Jugan invites us to lo...