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Manhattan Moment: Pope Francis needs a tutorial in economics

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In his December apostolic exhortation, Evangelii Gaudium (The Joy of the Gospel), Pope Francis had harsh words for the new, invisible "tyranny" of the market. This familiar denunciation of capitalism brings to mind a famous text by the French economist Frédéric Bastiat, published in 1848. Addressing the socialists of his day, who were already attacking the market economy, Bastiat replied that...

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