From the March, 2004 issue of Touchstone
Grayish Markets by John William Coleman

Grayish Markets

Wealth, Poverty & Human Destiny
edited by Doug Bandow and David L. Schindler
Wilmington, Delaware: ISI Books, 2003
(538 pages; $29.95, hardback)

reviewed by John William Coleman

The appearance of Pope John Paul II’s encyclical letter Centesimus Annus in 1991 was greeted by many as a victory for the liberal democratic tradition. While it did not offer unconditional support to capitalist economic orders, its condemnation of socialism and reaffirmation of freedom as an essential precursor to the recognition of human dignity seemed a vindication for those who support classically liberal ideas. However, the pope’s message for Lent in 2003 reiterated his concern for the modern poor:

Faced with the tragic situation of persistent poverty, which afflicts so many people in . . .


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