And there are plenty of economic views the Vatican has expressed over the years that we would disagree with — for instance, its call for a global finance authority, a tax on financial transactions and a degree of government redistribution that we would consider unwise.
Even so, it’s critical to have a powerful voice in the world arguing for anchoring economics to morality, both from the Chair of St. Peter and in the 220,000 Catholic parishes around the world. Whether one believes in God or not, that voice should serve as a reminder that markets, in the end, are collections of people. And that an economic system untethered by ethical consideration or concern for those left behind will be unstable, dangerous and ultimately counterproductive.
Francis, we wish you luck.