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.
Pope Saint John Paul II , a towering figure of the 20th century, was a staunch critic of socialist ideologies. He recognized the inherent flaws in systems that sought to control economies and societies through centralized planning and state ownership. The pontiff's teachings offered a prophetic warning against the dangers of such regimes, which often led to oppression, poverty, and the erosion of individual freedoms. Recently, a conference organized by the Catholic Association of Propagandists in Spain brought together prominent figures who echoed the concerns raised by the late Pope. Bishop José Ignacio Munilla of Orihuela-Alicante boldly declared socialism an "enemy of the cross," highlighting its incompatibility with Christian values. He emphasized the need for a spiritual renewal, urging individuals to embrace the cross as a path to true happiness and fulfillment. French philosopher Fabrice Hadjadj also addressed the challenges posed by modern society, warning ag...