The Staggering Cost of Economic Illiteracy

Over the last five years the Bishop of Rome has made manifest his ignorance of (or opposition to), Church doctrine on moral issues. Now he has chosen to demonstrate to the world another area in which he is ignorant; history, finance and economics.

We are naturally sad at the latest humiliation for the Church and the increase in confusion that will inevitably result from this promulgation of ignorance, but I am hopeful that God will do great things through the errors of this pontificate, and perhaps one way that will be manifested in the life of Catholics is the total annihilation of the neo-ultramontanist heresy which grips so many on both Left and Right.

Dr. Samuel Gregg offers an exceptionally charitable perspective on the document here.  His conclusion:

Finance is unquestionably a sphere of life in which people are subject to specific temptations—just as politics and the priesthood are callings with their own potential pitfalls. Oeconomicae pecuniariae et quaestiones goes some way towards helping people make good choices in an industry upon which every single one of us is in some way reliant for our economic well-being. Unfortunately, it’s also a reminder that the Church has much more work to do if it’s going to make constructive contributions to the reform of a segment of modern economies that, ten years after the financial crisis, is still in desperate need of substantive change.

The Pope’s essay is here.… Read the rest

That Most Lethal of Combinations: Arrogance and Ignorance

FB is that most egalitarian of communities, making present the spirit of the French Revolution in new and unimaginable ways. Can you imagine a medium by which the Dunning Kruger effect could be demonstrated over and over again with such perfection? I know-as a few of you must-from daily first-hand experience that the very people who are smugly superior while proving their near-total ignorance of a topic on FB are also the least likely to speak up in a public forum. I fear that in the same manner a virus spreads, this online behavior must inevitably have an adverse effect on the cumulative IQ of the species.… Read the rest