There has been much speculation as to why the new Pope chose the name Leo. The last Pope Leo (XIII) was the first Pope to take on Social Reform with his encyclical Rerum Novarum (“The Spirit of Revolutionary Change”) in 1891, which promoted a new social concept that poverty should no longer be accepted as the norm--with a focus on the worker.
Leo XIII opened up Rerum Novarum with a blistering condemnation of Socialism which was gaining traction in Europe, stating that “endeavoring to transfer the possessions of individuals to the community strike at the interest of every wage earner who is trying to better his life—and is manifestly against justice as it deprives every man of the right to possess property as his own.” Leo XIII concluded: “Therefore, the lowest cannot be made equal with the highest—while justice does not oppose our striving for better things, it does forbid anyone from taking from others what is not his and, in the name of a certain absurd equality, to seize forcibly the property of others; nor does the interest of the common good permit this.”
Leo XIII then predicted the ultimate failure of Socialism: “The Socialists, in setting aside the parent and introducing the State, act against natural justice, and threaten the very existence of family life—the sources of wealth would dry up for no one would have any interest in exerting his talents; there will be a leveling down of all to the same condition of misery and dishonor.”
Much happened between 1891 and 1991 that confirmed Leo XIII’s predictions. Socialism (aka Marxism, Communism) did in fact fail in the late 1980’s with the fall of the former USSR. On the 100th-anniversary of Rerum Novarum Pope John Paul II issued his encyclical Centesimus Annus (May 1, 1991) which provided a surprising bookend to this Social Reform saga by declaring that Capitalism “rightly understood” is the answer--as it is the only economic system that has produced the wealth needed to address poverty for both the poor and the worker as God intended. “Rightly understood” means the rich who benefited from Capitalism would in humility share their wealth with their workers and the poor.
Unfortunately, this is not the end of the story. From 1991 to today we see Marxists taking over our government, education system, media and judicial system promoting utopia with unlimited money printing, massive deficits and debt—producing inflation such that the Middle Class is now the new poor. What happened to our system of checks and balances?
Perhaps the new Pope chose the name Leo XIV because Socialism is gaining traction again.
Steve Gardes is a Certified Public Accountant (CPA) and Certified Valuation Analyst (CVA) with over 40 years of public accounting experience.
