GREG MANKIW: The Pope’s Rhetoric.

Related: What The Pope Gets Wrong About Capitalism. “But is it really true that ‘absolute autonomy of markets and financial speculation’ are the driving reasons for poverty and inequality? People in places like Congo, Burundi, Eritrea, Malawi, or Mozambique live under corrupt authoritarian regimes where crippling poverty has a thousand fathers — none of them named capitalism. The people of Togo do not suffer in destitution because of some derivative scheme on Wall Street or the fallout from a tech IPO.”