CATHOLIC SOCIAL TEACHING AND THE MARKET
Keywords:
Anthropology, Capitalism, Catholic Social Teaching, Common Good, Justice and Rights, The Market, SocialismAbstract
Catholic social teaching (CST), the hierarchical church teaching on social issues, claims no expertise in economics, as such, but judges economic issues such as the market on the basis of important moral principles and values. CST recognizes both the dignity and the solidarity (social nature) of all human beings. CST, since its origin in the nineteenth century, has recognized the fundamental importance of justice, especially distributive justice. As the twentieth century developed, CST gave greater emphasis to freedom and human rights, including economic rights. Only with Pope John Paul II and the fall of Communism was more attention given to the role of the market as such. John Paul II recognized positive aspects about the market based on free, responsible human action, but still strongly opposed a onesided individualism which makes profit primary and forgets about the common good and the needs of the poor. Popes Benedict and Francis often criticized the excesses of the market.
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