Last June, Pope Francis released his much-anticipated encyclical on the environment, Laudato Si’, which received tremendous praise from diverse quarters. The same day, Coral Davenport, writing in the New York Times, noted that the papal encyclical “is as much an indictment of the global economic order as it is an argument for the world to confront climate change.” Ms. Davenport quoted me (accurately) as saying that elements of the encyclical were unfortunately “out of step with the thinking and the work of informed policy analysts around the world.” In this column, I will elaborate.First of all, the Pope is to be commended for taking global climate change seriously, and for drawing more world attention to the issue. There is much about the encyclical that is commendable, but where it drifts into matters of public policy, I fear that it is — unfortunately — not helpful.The long encyclical ignores the causes of global climate change: it is an externality, an unintended negative consequence of otherwise meritorious activity by producers producing the goods and services people want, and consumers using those goods and services. That is why the problem exists in the first place. There may well be ethical dimensions of the problem, but it is much more than a simple consequence of some immoral actions by corrupt capitalists. The document also ignores the global commons nature of the problem, which is why international cooperation is necessary.