Only seven contenders will be on the main stage for Fox Business News’ broadcast of the sixth GOP 2016 presidential debate Jan. 14 — almost all well-known for taking strong stands on faith in hopes for a boost from devoted viewers. The December debate was the third-most-watched one in debate tracking history, according to CNN. The theme of this week’s debate will be economic policy, with managing editor for business news Neil Cavuto and global markets editor Maria Bartiromo asking questions.
Is socialism, like the communism of old, fundamentally inconsistent with Christian faith?
The Rev. Martin Schlag is a trained economist as well as a Catholic moral theologian, and when he first read some of Pope Francis’ powerful critiques of the current free market system he had the same thought a lot of Americans did: “Just horrible.”
But at a meeting on May 11 at the Harvard Club, Schlag, an Austrian-born priest who teaches economics at an Opus Dei-run university in Rome, reassured a group of Catholics, many from the world of business and finance, that Francis’ views on capitalism aren’t actually as bad as he feared.
The papal address to the Republican-controlled Congress is likely to be one of the most closely watched talks during the pope’s weeklong visit to Washington, New York, and Philadelphia this fall, especially since the presidential campaign season will be growing more intense.
Francis isn’t shy about tackling controversial topics or upending conventional orthodoxies about Catholics and politics — a prospect that makes U.S. conservatives especially nervous, given Francis’ insistence on raising concerns about issues such as economic justice, climate change, and immigration.
Author’s Note: Institutions we have valued for generations are dwindling and falling by the wayside because we no longer have the finances to sustain them. In this second essay on financing seminary education (read the first HERE), I will address the socio-political and economic concerns that add to the complexity of the current crisis in theological education.
Democracy is based on the ideal of political equality. Each citizen is to have the same potential to influence what government does regardless of financial status. Markets, on the other hand, are directly related to real dollars. The consequent result for the U.S. democratic capitalistic structure is that while the rich and the poor are equal politically, they will never be equal economically. This combination could lead to two undesirable extremes: 1) mob rule by asset-less democratic majorities, or 2) oligarchic rule by the affluent. Thus, government’s role is to oversee the enterprise through the creation of regulatory policies that prevent runaway markets and taxation that assures a sustainable distribution of wealth and resources for the whole population. In order to achieve these goals, political theorists have developed models that focus on creating and sustaining a strong middle class with the result that the median voter will correct rising inequality in wealth as well as poor economic performance.
Taking direct aim at libertarian policies promoted by many American conservatives, the Honduran cardinal who is one of Pope Francis’ top advisers said Tuesday that today’s free market system is “a new idol” that is increasing inequality and excluding the poor.
The pope, Maradiaga said, grew up in Argentina and “has a profound knowledge of the life of the poor.” That is why, he said, Francis continues to insist that “the elimination of the structural causes for poverty is a matter of urgency that can no longer be postponed.”
“The hungry or sick child of the poor cannot wait,” the cardinal said.