Thursday, November 28, 2013

Lynn Stuart Parramore — Is the Pope Getting the Catholics Ready for an Economic Revolution? (Maybe He Read Marx)

The pope's relationship with Liberation Theology. We are going to be hearing a lot more about this. Long overdue.

Is the Pope Getting the Catholics Ready for an Economic Revolution? (Maybe He Read Marx)
Lynn Stuart Parramore

Here's a comment I left at Aziznomics about this.

Tom Hickey | November 28, 2013 

Francis is addressing neoliberalism as a political theory based on a market state rather than a welfare state. He is not opposing all market-based economies or lobbying for socialism or communism. 

Assuming that capitalism = neoliberalism/laissez-faire is incorrect in that neoliberalism is exclusionary of many other possibilities. Minsky said that there are 57 flavors of capitalism. 

And assuming that neoliberalism and Marxism/socialism/communism as the only two options possible is the fallacy of the excluded middle aka false dilemma. 

The pope is in opposition to deifying markets in the sense of making markets the sole or even chief arbiter of social, political and economic policy and outcomes. Markets are to serve people, rather than people, markets. 

Peter F. Drucker is credit with saying, “Efficiency is doing things right and effectiveness is doing the right things.” Effectiveness is about goals and objectives, and efficiency is about means for achieving goals and objectives. Goals are chosen based on policy and policy is based on values. Objectives are subsidiary to this choice. 

Markets don’t provide either values or goals, and they cannot set objectives. They are simply efficient means of distribution through rationing by price and may be effective in many cases but not all. 


Unknown said...

Markets are NOT effective if purchasing power is not justly distributed.

And stealing the population's purchasing power and lending it to someone because he is likely to be able to return that purchasing power to the thief PLUS interest is NOT just.

Example: A manufacturer borrows the stolen purchasing power of his workers in order to replace most of them with machines. Is that just?

Who will dare say it is?

Malmo's Ghost said...

Bring it on....

Unknown said...

Well, maybe the Catholic countries will embrace ethical money creation first and then, instead of being hindered by it, soon outstrip the WASP countries should we remain obstinate.