This week’s Federal Open Market Committee (FOMC) could be the one where the Federal Reserve finally raises rates and reduces asset purchases. It’s still anyone’s guess until the announcement is made this Wednesday. But in anticipation of the event, CNBC shares a news release that says Bill Ackman met with the New York Fed and told them to begin the rate raising process. He’s quoted saying:

Writing in the Investment Monitor on March 18, 2021, Klaus Schwab, the founder of the World Economic Forum, was urging the replacement of the present economic system. According to Schwab, the present system is deficient, since it only benefits a small minority of the population while leaving all the others at a visible disadvantage.

Last month on “World Food Day,” Pope Francis yet again graced us with some economic words of wisdom in three tweets, effectively blaming free enterprise and capitalism for the continued existence of world hunger:

The fight against hunger demands we overcome the cold logic of the market, which is greedily focused on mere economic profit and the reduction of food to a commodity, and strengthening the logic of solidarity. #WorldFoodDay

Left-leaning economists often look back with nostalgia to the 1950s. Paul Krugman and Thomas Piketty, for example, long for the 1950s, when the income and wealth gap between the rich and the poor was less than it is now. True, people were less well-off then than now, but why does this matter? It is better to be equal in misery than unequal in prosperity.