Going Galt on Pope Francis?
Eduardo Moisés Peñalver January 1, 2014 - 1:43pm
CNBC reports that some in the Catholic donor class are becoming restless with Pope Francis's emphasis on economic justice. That's according to billionaire founder of Home Depot, Ken Langone, who is heading up a $180 million capital campaign for the New York Archdiocese: (HT TPM)
Langone told CNBC that one potential seven-figure donor is concerned about statements from the pope criticizing market economies as "exclusionary," urging the rich to give more to the poor and criticizing a "culture of prosperity" that leads some to become "incapable of feeling compassion for the poor." Langone said he's raised the issue more than once with Cardinal Timothy Dolan, archbishop of New York, most recently at a breakfast in early December at which he updated him on fundraising progress.
"I've told the cardinal, 'Your Eminence, this is one more hurdle I hope we don't have to deal with. You want to be careful about generalities. Rich people in one country don't act the same as rich people in another country,' " he said. . . . Langone, who describes himself as a devout Catholic who prays every morning, said he has told the cardinal that "you get more with honey than with vinegar."
About the Author
Eduardo Moisés Peñalver is the John P. Wilson Professor of Law at the University of Chicago Law School. He is the author of numerous books and articles on the subjects of property and land use law.