The Good News Pope Francis Missed

Pope Francis's inaugural encyclical celebrated the gospel and excoriated markets.  But did he overlook some very good news?  [Credit: Telegraph]

Pope Francis’s inaugural encyclical celebrated the gospel and excoriated markets. But did he overlook some very good news? [Credit: Telegraph]

In writing about the joy of the gospel, Pope Francis overlooked some very good news – about markets, about compassion, about poverty.

His first encyclical (Evangelii Gaudium, “The Joy of The Gospel”) has drawn attention less for its focus on missions than for its economic pronouncements. President Obama favorably cited the document in his recent remarks on economic mobility, while some conservative commentators have offered up harsh criticisms. Continue reading

Could A Wealth Tax Solve the Problem of Government Debt?

A recent IMF report suggests that this man's enormous wealth might help resolve the government's debt problem. [Credit: NY Post]

A recent IMF report suggests that this man’s enormous wealth might help resolve the government’s debt problem. [Credit: NY Post]

The International Monetary Fund (IMF) recently reported that European governments could reduce their debt back to pre-Great Recession levels by confiscating 10 percent of the wealth held by their richest citizens. IMF isn’t recommending that, of course.

They’re just sayin’. Continue reading