Vaticanonomics

The Vatican recently released a report on “the present economic-financial system” of the world that is typical of all pronouncements about economics from the Catholic Church bureaucracy:  It is astoundingly ignorant of even elementary economic concepts, and is written in the language of a C-/D+ high school writing assignment.  There is confusion over the definition of very simple economic concepts like profit and GDP.   There are 49 footnotes, but none of them makes reference to any economic...