Matthew Light #1
How do we solve this terrible problem of an economic system that continues to result in more and more money for fewer and fewer human beings, while the masses are struggling just to get by?
Pure capitalism works no better as we saw in the Industrial revolution where people were treated worse than farm animals.
It is not the “economic system” or “capitalism” (so-called) that causes the trouble you cite, nor the industrial revolution.
We need to face reality. The sneer of “capitalism” came from the Karl Marx of Communism, and St John Paul II in *Centesimus Annus *clearly dislikes the term, preferentially substituting instead, and seeing the great worth of, the “modern business economy” and the functioning of the “free market”, as well as the "market economy or simply **free economy.” **(#42).
Not only has free enterprise raised the welfare of untold millions out of poverty, but is emphatically affirmed by Bl John Paul II in Centesimus Annus, 42, 1991. How does free enterprise raise welfare? As welfare = something that aids or promotes well-being/a contented state of being happy and healthy and prosperous, the answer is obvious. That untold millions have benefited is unchallengeable.
Free enterprise has, with the development of the economic laws of cause and effect by the Catholic Late Scholastics based on faith and reason, from the 14th to the 17th century, enabled the enrichment of untold millions from the poverty existing before the enterprises that came with the “Industrial Revolution”. Without the great contribution of the Industrial Revolution, sparked by Catholic economic and social thought and action in the West, we would still be eking out an existence as before that development. Catholic teaching, especially social teaching outlines the morality of this interaction.
Free enterprise is not a world of its own, it is a set of principles based on cause and effect and developed by the Catholic Late Scholastics for the common good.
Pope Emeritus Benedict XVI felt it necessary to teach that **“Society does not have to protect itself from the market, as if the development of the latter were ipso facto to entail the death of authentically human relations…Therefore it is not the instrument that must be called to account, but individuals, their moral conscience and their personal and social responsibility.” **(Caritas et Veritate, Benedict XVI, 2009, #36). [My emphases].