Catholic Social Teaching - Free Markets, Economic Initiative, and Private Property
Money, a harmless piece of paper, has become the greatest motive for human success since its creation. It stands today as the core of millions of problems worldwide. You turn on the TV, there are economists talking about money. You go for a walk, you see a Mcdonald's advertisement for their new cheap burger. The society today is driven by money, and majority of humans want more money. Catholicism too, agrees with the nature of humans striving for personal incentives. However, Catholicism preaches that there must be regulations that everyone should adhere by. On this website, the key elements and regulations of the Catholic teaching on the systemization of economics is emphasized.
Catholicism believes that "Competition and free markets are useful elements of economic systems" but that "markets must be kept within limits, because there are many needs and goods that cannot be satisfied by the market system." Catholicism believes that all individuals have the right to pursue economic initiative and private property. However, Catholicism has one core value on the functions of economics: No individual should amass excessive wealth while others struggle to find the necessities of basic survival.