The problem is not with capitalism. Real capitalism or free enterprise has been hijacked by the banks and financial system. The imperialism of money The Church condemns both liberal capitalism and Marxist communism. Note that it is not capitalism in itself that the Church condemns, but “liberal capitalism”, “a type of capitalism”. For the Church makes a distinction, in capitalism, between the producing system and “the calamitous system that accompanies it,” the financial system: “This unchecked liberalism led to dictatorship rightly denounced by Pope Pius XI as producing `the international imperialism of money. One cannot condemn such abuses too strongly, because — let us again recall solemnly — the economy should be at the service of man. But if it is true that a type of capitalism has been the source of excessive suffering, injustices and fratricidal conflicts whose effects still persist, it would be wrong to attribute to industrialization itself evils that belong to the calamitous system that accompanied it. On the contrary, one must recognize in all justice the irreplaceable contribution made by the organization and the growth of industry to the task of development.” (Paul VI, Encyclical Populorum Progressio on the development of peoples, March 26, 1967, n. 26.) michaeljournal.org/plenty52.htm
Posted on: Tue, 30 Sep 2014 19:58:15 +0000
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