The Pope is right and wrong. Under a true free enterprise system, with no gimmicks...the system works.
In our current gimmick free enterprise system....once folks have been in the low wage for years and start to look for anything to move up...there’s fresh new illegals or immigrants to take the low-paying job.
Five decades ago, you had to keep inching wages up every five to ten years. There wasn’t any choice. Today? You just advertise the same wage as fifteen years ago, and keep going because you’ve got the players to take the lower pay.
We developed the free enterprise system into a gimmick. It’s not free market any more...we’ve twisted every true mechanism into something that hurts trends, limits futures, and led into over-regulation.
Small towns throughout America used to have small industry operations...up until the 1980s. The NAFTA agreement took that, and screwed up the whole idea of free enterprise working like the book says. Guys sit around today....waiting for $12 jobs to appear, and they just won’t come. Gimmick after gimmick created....to make us believe free enterprise and capitalism works as advertised. We still repeat the Reagan slogans and believe in the speeches. But that era of true capitalism went out in the 1990s. We are fake capitalists today...for better or worse.