ECONOMICS OF THE CANADIAN BISHOPS

Walter Block

Contemporary Economic Policy, 1988, vol. 6, issue 1, 56-68

Abstract: The author welcomes the bishops' statement as an expression of the uniquely moral aspect of the Canadian unemployment crisis. The statement is dramatic, compassionate and deeply ethical in its concern for the Canadian economy and its people—especially for the poor, the afflicted, and the oppressed. However, the bishops' public policy recommendations are ill‐advised and incompatible with the attainment of their very worthwhile goals. By relying on a quasi‐Marxist economic analysis, the bishops misconstrue the role and effects of inflation, price controls, technological progress, welfare, and the labor union movement. To achieve economic progress, including a cure for unemployment, a move toward freer markets is needed—not more government intervention.

Date: 1988
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