Thursday, December 5, 2013

Pope's economics

I, like many others, see our new pope as a man of the people and he recently said that many around the word are too materialistic. I am not sure that he understands the free market capitalist system. When consumers buy stuff they create profits for the companies that sell stuff and these companies create jobs and all of these people pay taxes. Some of the profits from companies and some of the taxes that governments collect are used for research and development. From this R&D came things like the polio vaccine, AIDS medicine which saved lives in Africa, farm equipment that allow the US to feed our population and many millions around the world. Over 2 billion people have access to the Internet and over 5 billion have cell phones. People in remote parts of the world are now connected and this helps them learn new ways of doing things. R&D has brought clean water to many parts of the world and reduced the health problems associated with bad water. The ways in which R&D has improved the lives of people around the world is almost endless. If consumers here in the US quit consuming we will have a depression and that will spread around the world and the poorest of the poor would be hurt the most. Remember when the United States sneezes the rest of the world catches a cold and the third world countries get pneumonia. I think the pope needs an economic advisor and that with his good heart and his good intentions could go a long way to helping many of the poor around the world.

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