Pope Francis, Laudato Si’ and the Market Economy: Good Intentions, Flawed Economics
While the genuineness of Pope Francis’s concern for those in poverty is unquestionable, Dr. Samuel Gregg argues that many of the economic ideas expressed in his encyclical Laudato Si’ not only reflect flawed thinking about the nature of free markets but are also unlikely to substantially address the economic challenges faced by those who he seeks to helps.
Dr. Samuel Gregg is Director of Research at the Acton Institute. He has written and spoken extensively on questions of political economy, economic history, ethics in finance, and natural law theory. He has an MA in political philosophy from the University of Melbourne, and a Doctor of Philosophy degree in moral philosophy and political economy from the University of Oxford, where he worked under the supervision of Professor John Finnis.
He is the author of several books, including Morality, Law, and Public Policy (2000), Economic Thinking for the Theologically Minded (2001),On Ordered Liberty (2003), his prize-winningThe Commercial Society (2007),The Modern Papacy (2009), and Wilhelm Röpke’s Political Economy (2010), Becoming Europe: Economic Decline, Culture, and How America Can Avoid a European Future (2013), and Tea Party Catholic: The Catholic Case for Limited Government, a Free Economy and Human Flourishing (2013) as well as monographs such as A Theory of Corruption (2004), and Banking, Justice, and the Common Good (2005). Several of these works have been translated into a variety of languages. He has also co-edited books such as Christian Theology and Market Economics (2008), Profit, Prudence and Virtue: Essays in Ethics, Business and Management (2009), and Natural Law, Economics and the Common Good (2012). He has also written on the thought of St. Thomas More.
He publishes in journals such as the Harvard Journal of Law and Public Policy; Journal of Markets & Morality;Economic Affairs; Law and Investment Management; Journal des Economistes et des Etudes Humaines;Notre Dame Journal of Law, Ethics and Public Policy; Evidence; Ave Maria Law Review ;Oxford Analytica;Communio; Journal of Scottish Philosophy; University Bookman; Moreana; Foreign Affairs; and Policy. He is a regular writer of opinion-pieces which appear in publications such as theWall Street Journal Europe; National Review; Public Discourse; American Spectator; Australian Financial Review; and Business Review Weekly. His op-eds are also widely published in newspapers throughout Europe and Latin America. He has served as an editorial consultant for the Italian journal, La Societa, as well as American correspondent for the German newspaper Die Tagespost.
In 2001, he was elected a Fellow of the Royal Historical Society, and a Member of the Mont Pèlerin Society in 2004. In 2008, he was elected a member of the Philadelphia Society, and a member of the Royal Economic Society. He is the General Editor of Lexington Books’ Studies in Ethics and Economics Series. He also sits on the Academic Advisory Boards of Campion College, Sydney; the La Fundación Burke, Madrid; and the Institute of Economic Affairs, London; as well as the editorial boards of the Journal of Markets and Morality and Revista Valores en la sociedad industrial.