My maxim is "The problem with traditionalism is that it's not actually traditional." That extends to Louis' "political traditionalism," which is not actually traditional but largely based on the writings of certain men in the last hundred years or less who had a deficient understanding of western political and economic history. They essentially created something and called it tradition. For more on such a phenomenon there is a scholarly book called the
Invention of Tradition which discusses this at the nationalist level. For example, much of the BS that the Irish think is a part of traditional Irish culture is really just a bunch of BS made up sometime during the 1800's.
Boggles my mind how a traditionalist can essentially echo the USCCB's "The Challenge of Peace" despite the fact that it presents a wildly different understanding of the morality of warfare compared to the writings of Ambrose, Augustine, Aquinas, Vitoria, and Suarez. And how they can abhor capitalism when there is no better example of pre-modern capitalism than in the medieval Italian city states. But that's only part of it.
I posted this some time ago and was hoping I'd get a response from Louis but never did. The below illustrates the incongruity of simultaneously attacking capitalism and pleading for more equality, or economic justice or whatever socialist plea you want to make. And yes it is socialist, at the very least utopian.
Exhibit A

This is a graph of average real wages across human history. By average I mean what the common man earned. Inflation and purchasing power have been accounted for (hence the term real). I made three modifications to this graph. I labelled the point at which Rerum Novarum was written, and I drew two lines. The red line marks the real wage below which, by Leo XIII's reckoning, the wage is probably unjust. The blue line marks the real wage below which, by the reckoning of liberals, socialists, and some traddies, the wage is still apparently unjust. Notice how, according to the red line, from approximately 1000 BC to 1891 AD wages were unjust. And according to the blue line, from 1000BC to 2000 AD, wages were unjust.
Exhibit B

A comparison of wealth distribution between pre-industrial and post-industrial Europe. The table shows the share of assets held by the Top 1%, 5%, and the Gini coefficients. Again, for those of you who do not know what a Gini coefficient is, 0.0 is perfectly equal, 1.0 is perfectly unequal (all the wealth is owned by 1 person). Inequality was at its highest in the pre-industrial world. The only socio-economic order more equal than modern capitalist society is the hunter gatherer model in which nobody really owned anything.
Exhibit C

Annual pretax earnings of an unskilled laborer relative to the average income. We see two things here relevant to the discussion. One: women made far less relative to men before the industrial revolution. This really is common knowledge by the way in economic history. Two: the unskilled laborer made even less, relative to the common man, before the industrial revolution compared to after.
Exhibit D

Comparison of equality in standards of living between preindustrial and modern society. Speaks for itself. Beyond just money, modern society is far more equal than preindustrial society. Whatever you think is wrong with modern capitalist economics was ten fold worse in agrarian and mercantile society.
Lastly, to illustrate the historical precedence (read: tradition) of low tax, free market economic policy:
Markets for goods, labor, capital, and even land were generally free. Indeed if we were to score medieval England using the criteria typically applied by the International Monetary Fund and the World Bank to evaluate the strength of economic incentives, it would rank much higher than all modern high-income economies - including modern England...
Pre-industrial societies were generally low-tax societies. England, in particular was an extremely lightly taxed nation. Before the Glorious Revolution of 1688-89 which established the modern constitutional democracy of Britain, the government expenditures of all types were extremely modest. In the years 1600-88 these averaged just 2.2 percent of national income...
Even allowing for the additional taxing power of the Church, all taxes collected in preindustrial England before the Glorious Revolution were typically less than 6 percent of income.
Graphs, tables, and the excerpt above were taken from Gregory Clark's A Farewell to Alms.
If you want to talk about quality of life, life expectancy, exposure to disease, nutrition, etc, capitalism similarly has delivered far more than any other system. Some idiot on this forum posted a few months ago that he is distraught over the fact that he can no longer drink from the wild waters because of pollution from industrial society. That idiot is completely unaware of the fact that his ancestors similarly would not have been able to drink from the wild waters. The vast majority of natural fresh water on this planet that is not fit for consumption is not fit for consumption because of the fact that fish, birds, and other animals shit die and rot in said water. Before industrial society, human beings would also shit in said water. When you spend your life in the comforts of a temperature regulated building typing on a computer, you forget that. There's a reason the medievals made great advances in the art of distillery and brewing - because at the point in time when people dumped their buckets of human shit in the local river, if you drank water you died. The fact that we can consume as much clean water as we do is thanks to water treatment brought to you by none other than industrial capitalism.
BTW Louis, Pius XI was pope less than a hundred years ago. In the grand scheme of church history, that's pretty recent.