The National Catholic Reporter: “On Dec. 20, the Vatican announced the appointment of Joseph Stiglitz, a Nobel Prize-winning American economist and former chairman of the Council of Economic Advisers under President Bill Clinton, to the Pontifical Academy of Social Sciences. In that capacity, he will help guide Vatican policy on global economic issues. Stiglitz is a personal favorite of Monsignor Marcelo Sánchez Sorondo, the academy’s chancellor. In his most recent book, The Roaring Nineties, Stiglitz argues that the Clinton team made a mistake by accepting that government should stay out of economic policy, leaving the finance sector to dictate the rules of the game. Stiglitz is thus likely to bolster what has already been the strong line of John Paul II, that public authorities must intervene in economic affairs to ensure that the benefits of globalization work for the common good.”
A better approach: re-read the works of Juan de Mariana.
