Trickle-Down Economics: Who’s right, and what does it mean for Christians?

I have to be honest: it’s terrifying to share this excerpt from Evangelii Gaudium. The idea of free market and trickle-down economics is foundational to the world view of so many Americans who hold the Christian faith, it’s often viewed as fundamental to being a Christian. Heck, I grew up that way. I know how defensive a reaction this quote is likely to provoke in many faithful Catholic readers.

So I guess we have to start by acknowledging that we can’t examine this question solely from the perspective of faith, because there is a very concrete, practical reality underlying it. The fundamental practical question we have to answer before we can address the faith component is this: does trickle-down economics work? Does it actually bring prosperity (and, far more important, greater human dignity) to all? Because if so, more power to it. But this weigh-in from the Church indicates otherwise.

According to this analysis, faith in trickle-down economics as a boon to all is on pretty shaky ground, with the financial benefits extremely lopsided–over 25 years and two trickle-down tax cuts, 6% growth for the bottom fifth versus 80% growth for the top fifth; the economic growth credited to those tax cuts uncertain because of other strong influences at work at the same time.

(To hearken back to the topic of honesty and fact checking in social media: The site hosting that analysis is one of the very few sources given the rating “least biased” by Media Bias/Fact Check, a site I visit routinely when I’m not familiar with the source I’m reading.)

Back to the topic at hand. If Pope Francis is right, then what does this mean for us as Christians?

I’ve spent an hour trying to formulate an answer to that question that doesn’t trip political land mines. Maybe the answer is that we all, regardless of where we stand politically, need to pray for the grace and wisdom to be able to self-reflect more honestly. We’ve always embraced it when our leadership has called out the failures and injustices in the Communist systems. And with good reason. But we’ve often turned a blind eye when the popes and bishops have called out the same offenses within capitalism. It’s easy to assume we know God’s will and not even recognize when what we’re actually worshiping is our own.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.