Category: World Report

Based on the lastest papal encyclical and in the proposals of great Catholic thinkers, John Medaille defends an alternative economic system that avoids the errors of both capitalism and socialism. He says: “We have abandoned justice on a global scale, which has led to chronically unbalanced trade. When trade is chronically unbalanced, it is not really “a trade” at all. Rather, it is a system by which foreign producers finance our consumption of their goods, a system that impoverishes both parties.” That’s why he chooses this third way, called distributism, a really free market based on people’s choices and communitarian bonds.

The financial and economic crisis that has been sweeping the world since 2007 led the Pope to call for a “profound reform” of the system. Its “financialization,” caused by speculation and greed, is a blow to human dignity by harming more and more people. To put it in numbers: for the first time in history, a billion people are malnourished.