Sunday, December 14, 2008

Pope Benedict says wealth re-distribution is not the answer

LewRockwell.com quotes Pope Benedict:

"While it has been rightly emphasized that increasing per capita income cannot be the ultimate goal of political and economic activity, it is still an important means of attaining the objective of the fight against hunger and absolute poverty. Hence, the illusion that a policy of mere redistribution of existing wealth can definitively resolve the problem must be set aside. In a modern economy, the value of assets is utterly dependent on the capacity to generate revenue in the present and the future. Wealth creation therefore becomes an inescapable duty, which must be kept in mind if the fight against material poverty is to be effective in the long term." [emphasis added]


I would also like to highlight:

Poverty is often considered a consequence of demographic change. For this reason, there are international campaigns afoot to reduce birth-rates, sometimes using methods that respect neither the dignity of the woman, nor the right of parents to choose responsibly how many children to have[5]; graver still, these methods often fail to respect even the right to life. The extermination of millions of unborn children, in the name of the fight against poverty, actually constitutes the destruction of the poorest of all human beings. And yet it remains the case that in 1981, around 40% of the world's population was below the threshold of absolute poverty, while today that percentage has been reduced by as much as a half, and whole peoples have escaped from poverty despite experiencing substantial demographic growth. This goes to show that resources to solve the problem of poverty do exist, even in the face of an increasing population.


Population campaigns do not reduce the rate of poverty.