Archive for January 15th, 2014

Marx on Francis


Cardinal Reinhard Marx has written of the controversy surrounding Pope Francis’ Apostolic Exhortation Evangelium Gaudium. While this has all the markings of an awkward translation, it, even its present form, is of value:

“The debate on the crisis of capitalism was not born because of papal pronouncements, but because, as of the 1990s, we have experienced an ever sharper development towards a financial capitalism, which has brought a catastrophic crisis. Economists also have deplored the new capitalism “of gambling”. “Such an economy kills,” says the Pope. Yes, this capitalism destroys human lives and harms the common good. After a phase of unrestrained self-awareness of such an accelerated capitalism, for which also the concept of social market economics was already a “socialist” aberration – all of this supported by the mainstream of economists – the crisis hit, which I think, however, still has not brought about a truly new orientation. I mean to say: capitalism and market economies are not the same thing. The very word “capitalism” is misleading, just as are all “isms,” which try to be able to define the whole of life from a particular point. What vision of the economy and of society is that which takes capital as its starting point, and renders acting persons marginal conditions, or factors of cost? Whoever reduces economic action to capitalism not only has chosen the morally wrong starting point, but is also wrong in the long term from the economic point of view.”

Read the whole thing  here:


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