Political conservatives would do well to remember that everything Pope Francis has been saying about economics has been said by his predecessors before.
When asked about criticism by “ultraconservatives in the USA” who called him a Marxist, Francis replied:
"[. . .] There is nothing in the Exhortation that cannot be found in the social Doctrine of the Church. I wasn’t speaking from a technical point of view, what I was trying to do was to give a picture of what is going on. The only specific quote I used was the one regarding the “trickle-down theories” which assume that economic growth, encouraged by a free market, will inevitably succeed in bringing about greater justice and social inclusiveness in the world. The promise was that when the glass was full, it would overflow, benefitting the poor. But what happens instead, is that when the glass is full, it magically gets bigger [sic] nothing ever comes out for the poor. This was the only reference to a specific theory. I was not, I repeat, speaking from a technical point of view but according to the Church’s social doctrine. This does not mean being a Marxist."
Also overlooked amidst the fallout from Evangelii Gaudium was a statement by Pope Emeritus Benedict XVI, which defended not only Francis’s remarks in EG, but also their specific context, as as well as the greater role of the Church vis-à-vis economics and morality. In his own release, Benedict wrote:
"Let me clarify somewhat the exact point in question. At first glance, precisely in terms of classical economic theory, it is not obvious what the Church and the economy should actually have to do with one another, aside from the fact that the Church owns businesses and so is a factor in the market. The Church should not enter into dialogue here as a mere component in the economy, but rather in its own right as Church."
Benedict went on to castigate Smithian economics, in particular—a system where “voluntary ‘moral’ actions contradict market rules and drive the moralizing entrepreneur out of the game”—as a culprit against which the Church must align:
As Francis remarked, however, “Marxist ideology is wrong,” too. And Benedict pulled no punches in backing this claim, as well.
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