I wish Pope Leo XIV had more faith in markets and less in government. I write of the pope’s AI encyclical in my latest column:

Instead of recognizing that AI will likely increase the working poor’s earnings, he seems more concerned about how policymakers can counter AI-driven inequality, and how private corporations will use these tools to grab market share. Leo calls for “measures to ensure equity,” including “industrial policies,” with apparent confidence that they will reduce the concentration of wealth and power, when they are more likely to have the opposite effect.

Instead of recognizing that AI will likely increase the working poor’s earnings, he seems more concerned about how policymakers can counter AI-driven inequality, and how private corporations will use these tools to grab market share. Leo calls for “measures to ensure equity,” including “industrial policies,” with apparent confidence that they will reduce the concentration of wealth and power, when they are more likely to........

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