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Tuesday, December 31, 2013

shedding light on the comments by the Pope concerning economics

Arthur Brooks, head of the American Enterprise Institute, a think tank that promotes free markets, said he agrees that the pope's beliefs are likely informed by his Argentine heritage.
"In places like Argentina, what they call free enterprise is a combination of socialism and crony capitalism," he said.
Brooks, also a practicing Catholic who has read the pope's exhortation in its original Spanish, said that "taken as a whole, the exhortation is good and right and beautiful. But it's limited in its understanding of economics from the American context." He noted that Francis "is not an economist and not an American."