Pope Francis denounces 'trickle-down' economic theories in critique of inequality

By Zachary A. Goldfarb and Michelle Boorstein, The Washington Post
Published: November 26

"Pope Francis on Tuesday sharply criticized growing economic inequality and unfettered markets in a wide-ranging and decidedly populist teaching that revealed how he plans to reshape the Catholic Church.

"'Some people continue to defend trickle-down theories which assume that economic growth, encouraged by a free market, will inevitably succeed in bringing about greater justice and inclusiveness in the world,' Francis wrote in the papal statement. 'This opinion, which has never been confirmed by the facts, expresses a crude and naive trust in the goodness of those wielding economic power and in the sacra­lized workings of the prevailing economic system.

"'Meanwhile,' he added, 'the excluded are still waiting.'"

Full story at: http://www.washingtonpost.com/business/economy/pope-francis-denounces-tr...