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Pope says coronavirus pandemic has proven market capitalism’s ‘magic theories’ have failed – Dateway

Pope Francis says the coronavirus pandemic has proven that the “ magic theories ” of market capitalism have failed and that the world needs a new kind of politics that promotes dialogue and solidarity.

On Sunday, Francis laid out his vision of a post-COVID world by uniting the fundamental elements of his social teachings in a new encyclical, “ Fratelli Tutti ” (All Brothers), which was published on the feast of his namesake, peace loving Saint Francis of Assisi.

The document draws on the teachings of Saint Francis and the Pope’s previous preaching on the injustices of the global economy and its destruction of the planet and combines them with his call for greater human solidarity to solve today’s problems. ‘hui.

Francis had started writing the encyclical, the third of his pontificate, before the coronavirus struck and upset everything from the world economy to everyday life.

He said the pandemic however confirmed his belief that current political and economic institutions must be reformed to meet the legitimate needs of those most affected by the coronavirus.

“In addition to the different ways in which different countries reacted to the crisis, their inability to work together has become quite evident,” Francis wrote.

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“Anyone who thinks that the only lesson to be learned was the need to improve what we were already doing, or to refine existing systems and regulations, denies the reality.”

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