Catholic Social Teaching and the Market Economy

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Philip Booth
Institute of Economic Affairs, 2007 - Capitalism - 277 pages
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Throughout history, but particularly in the last century or so, the Catholic Church has developed a formal body of teaching on economic and political matters. Other Christian faiths have absorbed much of that work, as have non-Christians, and thus the body of Catholic Social Teaching has often been influential in the public policy arena. This volume, taking account of recent developments in both political economy and Catholic Social Teaching, examines the extent to which that teaching can be used to justify the free market, or alternative forms of political and economic organisation, in areas such as taxation, welfare, foreign aid, labour markets and business. It also critically examines the general case for an interventionist state in the economic sphere, as well as the importance of the development of responsible culture, underpinned by sound education, in a free society. The book is relevant to all Christians, and others, who take an ethical approach to the analysis of public policy issues.

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About the author (2007)

Philip Booth is editorial and program director at the Institute of Economic Affairs and a professor of insurance and risk management at Cass Business School. He worked for the Bank of England as an advisor on financial stability issues and has written widely, including a number of books, on investment, finance, social insurance, and pensions, as well as on the relationship between Catholic social teaching and economics. He is editor of economic affairs and associate editor of the Annals of Actuarial Science and the British Actuarial Journal. John Kennedy is a former secretary for church and society at Churches Together in Britain and Ireland. Leonard P. Liggio is a research professor of law at George Mason University and executive vice president of the Atlas Economic Research Foundation in Fairfax, Virginia. He has been a member of the editorial boards at the Cato Journal, the American Journal of Jurisprudence at Notre Dame Law School, and Markets & Morality.

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