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Monday, October 24, 2011



the best solution to this problem is to work toward the establishment of a single, massive "world political authority."

Well, that is exactly right. And the single authority that the world is in need of is named Jesus Christ in His heavenly kingdom. Meanwhile, in the here and now on earth, any other world political authority would necessarily need to be populated with human beings -- fallen, sinful, not-at-all altrustic human beings who have demonstrated over the entire history of mankind to have a lust for power and propensity for oppression, rather than a desire for caritas in veritate.


"what practical and long-term good, exactly, this document can or will accomplish..."

None. But it will probably do some damage. The Vatican would be better off resisting about 75 percent of its urges to speak out!


My church is embarrassing me. :\


What is often sadly forgotten is that such documents are drafted by Catholic economists, not inexpert Bishops and priests, as it is usually made out to be. When it is then said by Bishop Mario Toso that the Church isn't entirely competent in the area of economics, it's very like the Pope saying in his book on Jesus that he isn't going to touch on certain disputed questions and then goes ahead and does so anyway. It's just something you say. It’s prudent to understate your case.


as if the massive growth of taxes and regulations over the past few decades in the West has had nothing to do with the present economic crisis

That's the spirit! If we could only get rid of the Food and Drug Administration putting all those pesky regulations to make drugs "safe and effective", we'd be ahead of the game. We don't need economic regulations -- if the past 10 years has proved anything, it's that big business can be trusted to be scrupulously honest towards their customers and stockholders. No doubt the reason the Big Three needed to be bailed out was because they were spending too much time filling out paperwork.

Carl E. Olson

Uh, yeah, Howard, that's exactly what I meant (eye roll). My statement may have been broad, but your response is selectively silly. I suppose I could have connected the dots further, but suffice to say, I'm not a fan of either "Big Business" or "Big Government", as I believe, in general, that the two tend to be in bed together. The point is that economic stagnation and even implosion is due in part to the continual intrusion of the government into every area of life (not just business), taking up more and more wealth and resources, all in order to expand further and create further dependents. In other words, it's a cycle that cannot sustain itself, as the past few years have shown. To put it another way, I think that "Big Business" and "Big Government" are more and more given to corruption, greed, and a parasitical destruction of small businesses, families, and traditional institutions that don't fit within either the two afore-mentioned entities.

Nancy D.

A Catholic committee that recognizes that Peace requires Justice, and Peace and Justice require Caritas In Veritate and thus respect for the inherent dignity of every human individual, would never look to The United Nations as a model that reflects The Common Good. Catholics recognize that God defines The Common Good, and that The United Nations does not recognize that our unalienable Rights have been endowed to us from God when God created us equal in dignity while being complementary as male and female at the moment we were brought into being, at Conception.

Our Lady of Fatima, Pray for us.


You have to be cautious of broad statements, because in almost all cases they encompass the silly. You just don't realize it at the time you make such a statement. Unfortunately, there are plenty of people on the spectrum from libertarian to anarchist who would be happy to take your statement at face value.

It's fashionable to condemn all federal regulations because some are pointless, stupid, or counterproductive. This can cause us to lose sight of the fact that many of them are necessary for us to have enjoyed the postwar prosperity. Look at what's happening to the banks today. Would you put your money in a bank or credit union that wasn't federally insured? Would your neighbors? A balance has to be reached that minimizes counterproductive regulations while retaining useful ones.

Our recent economic problems are the result of many causes. The expansion of government is one -- both internally, which is the intrusiveness you mention, and externally, where we've been building very expensive houses of cards in places like Iraq and Afghanistan. There are other worrying contributions, though. What does a bachelor's degree mean today? Maybe as much as an associate's degree meant 30 years ago. The grade inflation that has ruined our high schools has bled over into the universities. And then there is the shopping cart problem. How can we expect to succeed as a nation when so many people are too &*^% lazy to return their empty cart to the corral?

But since, in the US at least, the proximate cause of the economic downturn was based on dubious (to say the least) packages of dubious mortgages, it could be argued that the problem was not too much regulatory oversight, but too little.


Howard, your FDA analogy is seriously flawed.

The leftist mind seems utterly incapable of comprehending the invisible costs to any of their ideas.

John D.

While the idea of a global financial authority seems to have a lot of downside (and is difficult to square with the idea of subsidiarity), libertarian financial blogger Karl Denninger has a surprisingly positive review of the document.


But since, in the US at least, the proximate cause of the economic downturn was based on dubious (to say the least) packages of dubious mortgages, it could be argued that the problem was not too much regulatory oversight, but too little.

Wrong again, Howard.

Charles E Flynn

Jeffrey Tucker, a friend of Fr. Z, has a few insightful comments:

Jeffrey Tucker on the new “white paper”: “a near total absence of clear thinking”.

Disclaimer: My own crackpot theory is that economics is where axe handle design theory was after the last ice age.


The US Catholic Bishops fought Clinton era welfare reforms, support open immigration and blanket amnesty for illegal aliens and consistently fight for every feel-good liberal social program imaginable. Of course they want to redistribute our tax dollars to the 3rd world, of course they detest free market capitalism; of course they gave 10 million dollars to ACORN. The Vatican is run by socialists who happen to hate abortion, gay marriage and secularism slightly more than they dislike capitalism. Free enterprise has lifted more human beings out of poverty than any other force. But this does not matter to dogmatists whose ideal world is very poor and very, very crowded.

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