Pope Leo XIV in his own words
"We must continue, then, to denounce the ‘dictatorship of an economy that kills’... This imbalance is the result of ideologies that defend the absolute autonomy of the marketplace and financial speculation.... A new tyranny is being born...’” (Citing Pope Francis, 92)
SUMMARY
Pope Leo explores the Church’s social teachings, including on “the universal destination of earthly goods.” This refers to God’s will that all created things be “shared fairly by all humankind under the guidance of justice,” and that no one may accumulate “surplus goods solely for his [or her] own private use when others lack the bare necessities of life” (86)! On this basis, the pope denounces the system that allows a small few to hoard resources meant for all, and affirms, “We need to be increasingly committed to resolving the structural causes of poverty” (94). That means rejecting worship of the marketplace (a “tyranny!”) and an economy that serves only the powerful, wrecks the planet, and leaves everyone else with “a few ‘drops’ that trickle down.” It means developing policies that align with the “universal fraternity, justice, peace and dignity” of God’s kingdom (92, 93, 97).
Key Quotations
Reflection
It is immoral that many ultra-wealthy individuals and corporations pay less in taxes than schoolteachers or bus drivers – sometimes even no taxes at all. The Catholic Church teaches that when wealth hoarding becomes as extreme as it is today, governments have a responsibility to justly redistribute resources. One way we can achieve this is by ensuring that billionaires pay their fair share in taxes. When that happens, we will be able to end poverty; fund universal health care; ensure housing, education, free childcare, and a dignified retirement for all of us; and much more. That’s An Economy for All!
Question
How is it that, as Pope Leo writes, the economy today “kills” (92)? In contrast, how does an economy of solidarity lead to better outcomes for everyone? What will it look and feel like—for you, your family and friends, and your town or city—when we all have what we need to thrive?