Economic Theory, Catholic Social Thought and Labor Markets (original) (raw)

Economic Theory, Catholic Social Thought and the Common Good

in Empirical Foundations of the Common Good, Daniel K. Finn, editor (New York: Oxford University Press, 2017), pp. 114-141., 2017

This paper is in response to the twofold question posed by the organizers of the conference on Empirical Foundations of the Common Good: "Given what you know empirically and theoretically from your disciplinary perspective, what is the common good and how do markets help or hinder it?" This was further clarified by the question: As an economist what aspects of your field are conducive or detrimental to achieving the common good seen as human flourishing? This is a complex task for a number of reasons. Any conception of the common good covers a wider area than just the economy; further, economics as a discipline has to be distinguished from the actual workings of the political economy. I will focus on three issues in this paper. First, I will outline the conception of the common good found in Catholic social thought and then as an economist try to flesh out its meaning to me. Second, I will explain some of the ways that economic theory can be useful to policy makers in attaining that common good. Third, I will suggest some practical changes to the way the actual economy operates.

Roman Catholic Social Thought and Economic Theory: An Agenda for the Future

Review of Social Economy, 1991

... New York: Praeger Pub. Co., 1978. Schotter, Andrew. Free Market Ecor~orriics: A Critical Approisnl. New York: St. Martin's Press. 1985. Sen, Amanya K. 011 Ethics arrci Ecorlorr~jcs. Berkeley, CA: University of California Press, 1984. Titmuss, Richard M. The Gift r?elntiortship. ...

Conflicts and Contrasts: Economics and Catholic Social Teaching

In 1986, the Catholic bishops in the United States issued a pastoral letter call Economic Justice for All. It was criticized by professionals and economists as containing no valid economic thinking and ignored by many in the business community as not understanding the realities of the work place. Why? The Roman Catholic Church, since 1891, has weighed in on economic activity, economic affairs, and economic policy. Sometimes it is the Pope, other times the Bishops, and occasionally theologians speak to economic issues. Why is it their thinking generates controversy? Professional economists deride such statements as being without rigorous economics. Leaders in the business community, many of them Catholic themselves, assail such moral guidance as being out of touch with the realities of the marketplace. What is the Catholic layperson to make of this conflict between the Magisterium and respected economists and business leaders? Is the Church, their moral guide, stepping outside its area by trying to discuss economic activity? Is the Church as out of touch as academic economists and Wall Street leaders claim? Economics and Catholic Social Teaching: Understanding the Conflict and Contrasts explains why academic, orthodox economists and the Church so frequently differ. Unlike many similar books, this does not argue that orthodox economic theory is wrong and Catholic Social Teaching is correct, or vice-versa; it develops an understanding of the perspective from which each develops, a perspective that creates a difference in how goals are justified by each.

The Catholic Understanding of the Economy Prologue and Chapter 1

The Incarnate Word, 2025

What follows is a translation of the Prologue and First Chapter of Julio Meinvielle's book, La concepción católica de la economía (Buenos Aires: Cursos de cultura católica, 1936). The text is interesting because of its attempts to apply Thomistic principles within a "modern" economic framework. Nevertheless, many parts of the text are outdated.

From the Labor Question to the Murderous Economy: Catholic Approach to Economic Policy

Religions , 2025

From his election, it was clear that Pope Francis advocated for the poor and the protection of creation. However, both areas are linked to ethical aspects of the economy. This paper demonstrates that although new aspects of Catholic economic ethics emerged with Pope Francis, they show a continuity with the Church's social doctrine. Pope Francis is under fire from two directions. He is under attack from both economically minded conservatives and liberals. This paradox is interesting since these areas indicate Pope Francis' teaching is partly static and dynamic. It is here that the dichotomy of continuity and progression is most visible. The Catholic Church theologically reflected on economics and then gradually in a transdisciplinary perspective. In this paper, we examine both methodologically and substantively the static elements of the Church's teaching on the economy. We point to the slow but firm critical articulation of the Church's opposition to the ethics of the capitalist economy. A qualitative method was used for the research, so primary and secondary Church documents and the theological and economic literature were applied. These were compared, opinions were contrasted, and a conclusion was drawn to justify the hypothesis.

The Development of Catholic Social Teaching on Economics: Bernard Lonergan and Benedict XVI

Theological Studies, 2012

Affected by the Great Depression and the inadequacy of the "simple-minded moralism" of church commentators on economic matters, Bernard Lonergan worked on a macrodynamic economic model in the 1940s and returned to it in the 1970s. The authors here situate Lonergan's economics in relation to economic theory then and now, as well as within his own overall project. They consider its possible contribution to the development of Catholic social teaching on economics, especially in dialogue with Benedict XVI's encyclical Caritas in veritate. Finally, they discuss the light Lonergan sheds on the importance and difficulties of interdisciplinary work. B ERNARD LONERGAN, BETTER KNOWN in the fields of theology and philosophy, also wrote substantial works on economics. This economic work, which has only recently become widely available as two volumes of NEIL ORMEROD received his PhD in pure mathematics from the University of New South Wales and his DTheol from Melbourne College of Divinity. He is professor of theology at the Australian Catholic University, where he specializes in trinitarian theology, ecclesiology, natural theology, and Bernard Lonergan. He has recently published A Trinitarian Primer (2011); Globalization and the Mission of the Church, with Shane Clifton (2009); and "Preliminary Steps Towards a Natural Theology," Irish Theological Quarterly 76.1 (2011). Under contract with Fortress Press is Creator God, Evolving World, with Cynthia Crysdale. PAUL OSLINGTON received his PhD from the University of Sydney, is professor of economics at Australian Catholic University and visiting fellow at the Australian Centre for Christianity and Culture, Canberra. Specializing in the history and philosophy of economics and economics and theology, he has recently published Adam Smith as Theologian (2011, edited); "The Future Hope in Adam Smith's System," Studies in Christian Ethics 24.3 (2011); and "Lonergan's Reception among Economists: Tale of a Dead Fish and an Agenda for Future Work," Method: Journal of Lonergan Studies n.s. 2.1 (2011). Forthcoming is his edited text Oxford Handbook of Christianity and Economics. Under contract with Routledge is Political Economy as Natural Theology; and with Harvard University, God and the Economic Order. ROBIN KONING, S.J., received his ThD from Regis College in the University of Toronto and is lecturer in systematic theology at Jesuit Theological College in the the United Faculty of Theology at MCD University of Divinity. His areas of special interest are Bernard Lonergan, method in cultural anthropology, and Clifford Geertz. Theological Studies 73 (2012)