Pope Francis, the head of Catholic Church, disapproved of the trickle-down economic theory of Capitalism by saying that the COVID-19 pandemic has shown that the free-market policy, which is advocated by Capitalism, can't solve humanity's most dire needs.
Outlining his vision for a post-pandemic world, the Pope wrote in his encyclical – form of Papal teaching – that "the marketplace by itself cannot resolve every problem, however much we are asked to believe this dogma of neoliberal faith," CNN reported.
Denying that the theories of "spillover" or "trickle" propagated by Capitalism are the only solution to the problems of the society, he said that such theories, far from removing societal inequality, instead give rise to "new forms of violence threatening the fabric of society."
Reiterating his vision for a more communal society, the Pope further wrote, "The Christian tradition has never recognized the right to private property as absolute or inviolable and has stressed the social purpose of all forms of private property."
