Modern Catholic Social Documents and Political Economy

As western economies have moved from feudalism to industrialsm to the information age, Catholic social thought has kept pace, responding to the economic realities of the day. Linking Catholic social teaching with modern economic theory, this text examines the changing political economy embedded within the moral theology and social documents issued by the Church during the last hundred years. The book discusses the evolution of Catholic social teachings, from scholastic thinking on the concept of the 'just price' to a modern emphasis on the importance of a living wage. As the conduct of economic life according to traditional custom and common law has given way to institutional and impersonal market forces, these teachings have moved from a preoccupation with personal moral behaviour to an intense scrutiny of the structures of society. The book also looks ahead to the challenges posed by a postindustrial society characterized by a global, knowledge-based economy, arguing that Catholic social thought will likely shift its focus from advocacy of the living wage to demands for greater equality of socioeconomic participation. Written for scholars and students of economics, theology, and political science interested in religious social thought, this book aims to bridge the gap between moral theology and economic theory.