Category: Economics

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On Capitalism: American Catholics Have a Choice to Make

The debate touched off by Senator Marco Rubio’s recent speech at the Catholic University of America reveals major fault lines within current Catholic thinking in the United States. What Rubio, who is Catholic, pointed out in his speech seemed straightforward enough: capitalism has led to a growing inequality. Many, especially the young, feel left out of a system that primarily benefits only a few and the already wealthy. Unemployment is at a record low, but...

Thoughts On The Vatican’s New Document On Economic And Financial Issues

Last week, the Vatican released a new magisterial (= authoritative teaching) document about “economic and financial issues” (Oeconomicae et pecuniariae quaestiones, the opening words and thus title). Co-signed by the Congregation for the Doctrine of the Faith and the office for “Integral Human Development” (Vaticanese for social justice), it is a synthesis of the teachings of the bishop of Rome, Pope Francis, on this topic. It is “offered to all men and women of good...