Thursday, March 14, 2013

Will the New Pope Be an Economic Activist?

I have already speculated that the new Pope may hold anti-free market views.

There are also indications that the Pope may have been something of an economic activist in the past.

L’Osservatore Romano, the Vatican’s newspaper, says of Pope Francis, “Although a shy character, he has become a [moral] reference point for his strong positions during the dramatic economic crisis that overwhelmed [Argentina] in 2001.” The paper added that although Cardinal Bergoglio had become popular as a result, “he never [abandoned] his sober and rigorous lifestyle”

"Popular as a result," suggests that he was probably an advocate of interventionist programs that likely hurt the people of Argentina in the long-run. Will this Pope become a global advocate for interventionist economic policies? Time will tell. It's also possible he will become a thorn in the side of global banksters.  New York Magazine reports he is a critic of the International Monetary Fund, though the mag also claims the Pope blames "free-market capitalism for contributing to poverty."

Pope Francis will hold a press conference and address the world’s media on Saturday. His next public appearance will likely be Sunday.

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