“Subsidiarity” is the name given to the principle that a central authority should have a subsidiary function, performing only those tasks which cannot be performed at a more local level.

The latest encyclical, Laudato Si, is generating a great deal of heat both inside and outside of the Catholic Church – and more heat than light I am afraid. Instead of discussing the various and, in some cases, quite serious scientific, philosophical, and theological concerns that a number of commentators have raised in reference to it (consider, for example, the following interview with Chris Ferrara:

The following review of my booklet The Economics of Social Credit and Catholic Social Teaching was recently published by James Reed in Australia:

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    Understanding this question concerning federal debt in precise terms matters. It moves us beyond simplistic "debt trap" stories or denials of fiscal pressures toward a nuanced recognition of trade-offs, agency, and alternatives. Sustainable fiscal policy requires primary balance discipline, growth-enhancing reforms, and — in line with the Douglas Social Credit monetary reform proposals — exploration of more direct, less burdensome mechanisms to ensure adequate purchasing power. Canada's experience from 1974 onward offers lessons in both the power and perils of relying on debt-financed demand management.
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