Another great take on Evangelii Gaudium

David Harsanyi at The Federalist:

For starters, it’s troubling that the Pope fails to make any genuine distinction between Western poverty (terrible) and the poverty of the Third World (unimaginably terrible). But is it really true that “absolute autonomy of markets and financial speculation” are the driving reasons for poverty and inequality? People in places like Congo, Burundi, Eritrea, Malawi, or Mozambique live under corrupt authoritarian regimes where crippling poverty has a thousand fathers — none of them named capitalism. The people of Togo do not suffer in destitution because of some derivative scheme on Wall Street or the fallout from a tech IPO.

“While the earnings of a minority are growing exponentially,” the Pope goes on to say, “so too is the gap separating the majority from the prosperity enjoyed by those happy few.”

In truth, global inequality has been dropping for years. The World Bank estimatesglobal poverty was halved from 1990 to 2010. In fact, according to the World Bank, the United Nations’ “millennium development goal” of cutting world poverty in half by 2015 came in five years ahead of schedule despite a major global recession. The decline in poverty coincides, not coincidentally, with developing nations embracing more market-based systems.

Moreover, the Pope falls into the trap of conflating inequality and poverty. Some countries enjoy income income parity because most citizens are rich and others because most citizens are poor. Put it this way:  Egypt, Pakistan, and Mongolia all enjoy more economic equality than the United States. The GDP per capita here is $49,800. In a country like Argentina, the Pope’s homeland, a place where wealth is more fairly distributed, it’s $18,200.

And the supposedly Wild-West atmosphere of robust investing that Freedom-Haters love to disparage actually turns out to be a verifiable engine of societal uplift:

For the most part, in fact, the more “unfettered” a nation’s system is the prosperous the population becomes, and consequently the more it spends on charity and safety net programs. When we match up the Cato Institute’s Index of Economic Freedom with the World Bank’s measure of per capita income, we find that the countries with the most unencumbered systems and the most financial “speculation” usually have the least of amount of poverty:
Hong Kong — $51,946
Singapore — $61,803
Australia — $44,598
New Zealand — $32,219
Switzerland — $53,367
Canada — $42,533
Chile — $22,352 (Chile’s score has jumped considerably since unfettered capitalism took over)
Mauritius — $15,649
Denmark — $42,086

Rather than credit those who do their best to balance this imperfect system that lifts millions out of impoverishment, the Pope attacks them for the prevalence of imaginary economic Darwinists who callously keep equality from blooming.  

And Harsanyi closes by reminding us that the Church's tax-exempt status has made for coffers full of capital accumulated in a free market.