Catholic social teaching: A communitarian democratic capitalism for the new world order

Journal of Business Ethics 12 (12):919 - 932 (1993)
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Abstract

Catholic Social Teaching has taken a remarkable turn with the May 1991 document on economic ethics,Centesimus Annus. During their one hundred year history, church documents were notable for their courageous championing of the rights of the least advantaged; they were much less distinguished for their understanding of how markets and incentives function in capitalism. Most business leaders admired church teaching for its compassion but had little respect for its competence. With this most recent document, however, there is a growing conviction that the church may have come of age in economic ethics. Even theWall Street Journal has celebratedCentesimus Annus. The article outlines the highlights of the document and its points of continuity with the tradition. Responses from business and the academy are also briefly considered.

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References found in this work

Anarchy, State, and Utopia.Robert Nozick - 1974 - New York: Basic Books.
The Theory of Moral Sentiments.Adam Smith - 1759 - Mineola, N.Y.: Dover Publications. Edited by Elizabeth Schmidt Radcliffe, Richard McCarty, Fritz Allhoff & Anand Vaidya.
Taking rights seriously.Ronald Dworkin (ed.) - 1977 - London: Duckworth.
Two treatises of government.John Locke - 1947 - New York: Cambridge University Press. Edited by Peter Laslett.

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