Pope: Market capitalism has failed in pandemic, needs reform

... "The fragility of world systems in the face of the pandemic has demonstrated that not everything can be resolved by market freedom," he wrote. "It is imperative to have a proactive economic policy directed at 'promoting an economy that favours productive diversity and business creativity' and makes it possible for jobs to be created, and not cut." He denounced populist politics that seek to demonize and isolate, and called for a "culture of encounter" that promotes dialogue, solidarity and a sincere effort at working for the common good. As an outgrowth of that, Francis rejected the concept of an absolute right to property for individuals, stressing instead the "social purpose" and common good that must come from sharing the Earth's resources. He repeated his criticism of the "perverse" global economic system, which he said consistently keeps the poor on the margins while enriching the few ... Francis also rejected "trickle-down" economic theory ... saying it simply doesn't achieve what it claims...

https://apnews.com/article/virus-outbreak-pope-francis-archive-capitalism-bcde0053314e65612add0709fada5519