Belief in markets as all but infallible has been exposed as a ‘magic theory,’ the pontiff argues in ‘Brothers All’ encyclical issued on feast day of St. Francis of Assisi
by Associated Press
ROME (AP) — Pope Francis says the coronavirus pandemic has proven that the “magic theories” of market capitalism have failed and that the world needs a new type of politics that promotes dialogue and solidarity and rejects war at all costs.
Francis on Sunday laid out his vision for a post-COVID world by uniting the core elements of his social teachings into a new encyclical aimed at inspiring a revived sense of the human family. “Fratelli Tutti” (Brothers and Sisters All) was released on the feast day of his namesake, the peace-loving St. Francis of Assisi.
The document draws its inspiration from the teachings of St. Francis and the pope’s previous preaching on the injustices of the global economy and its destruction of the planet and pairs them with his call for greater human solidarity to confront the “dark clouds over a closed world.”