Vocation of Business: Social Justice in the Marketplace

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Author: John C. Medaille

ISBN-10: 0826428096

ISBN-13: 9780826428097

Category: Economics - Religious & Moral Aspects

This is a textbook on the Social Teaching of the Roman Catholic Church for would-be business professionals. Part I does 3 things: provides (1) a history of moral discourse since the Enlightenment, (2) a history of economic thought from Aristotle and Aquinas to Ludwig Mises and Milton Friedman , and (3) a history of property. Part II provides a close reading of 3 major social encyclicals. Part III examines the tensions between Catholic social teaching and neoclassical economics. Part IV...

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This is a textbook on the Social Teaching of the Roman Catholic Church for would-be business professionals. Part I does 3 things: provides (1) a history of moral discourse since the Enlightenment, (2) a history of economic thought from Aristotle.

Preface     xiThe Historical BackgroundJustice and Economics     3Social Teaching and the Businessperson     3Why a "Social Teaching"?     5Justice and Economics     8The Erotic Economy     10Business as a School of Virtue     12The Vocation of Business     14The Modern Moral Dialogue     15Is a Moral Dialogue Possible?     15The Fragmentation of Moral Discourse     17Recovering the Moral Dialogue     23Culture, Narrative, and Practice     29The Culture of the Firm     33Conclusion     35Justice in Economic History     37The Recent History of Economic History     37The Preacher as Economist     38The Economist as Preacher     43The Utilitarians     55Summary     61The Disappearance of Justice     63The Marginalist Revolution     63The Keynesian Revolution     71Utility Triumphant     80The Disappearance of Justice     83Property, Culture, and Economics     86Property as the Foundation of Wealth     86Property and Culture     89Property and Economics     101A Question of Values     104The Social EncyclicalsRerum Novarum: A Scandalous Encyclical?     109Reading the Social Encyclicals     109The Historical Background     110Reading the Encyclical     112The Strategy of Rerum Novarum     115The Scandal of Rerum Novarum     116Laborem Exercens: Work as the Key to the Social Question     118The Polish Pope     118Reading Laborem Exercens     118A Practical Spirituality of Work     122Centesimus Annus: The Uncertain Victory     125The Defeat of Communism     125Reading Centesimus Annus     126An Endorsement of Capitalism?     133The Uncertain Victory     134Toward an Evolved CapitalismThe Social Teachings and Economics: Ideas in Tension     139Some "Economic" Principles of Catholic Social Teaching     139Conflicts with Economic Theory     143Criteria for an Ethical Economics     148Toward an Evolved Capitalism     152Economism     152Personalism     162Marginal Productivity and the Just Wage     171The Capitalist Narrative     171Marginal Productivity     174The Critique of Marginal Productivity     177The Just Wage     185The Neoconservative Response     194Responses to Catholic Social Teaching     194Weber's Question     196The Spirit of Democratic Capitalism     198Evaluating Neoconservatism     203Distributivism     211The Triumph of Liberalism     211The Chesterbelloc     212The Servile State     213Up from Servility     216The Economic Theory of Distributism     219The Ownership Society     222The Practice of Justice in the Modern Business WorldTaiwan and the "Land to the Tiller" Program     227Land Monopoly and Labor Markets     227The "Land to the Tiller" Programs     231Industrial Policy     234Equality and Development     236Development and Globalization     238The Growing Gap     238The World Bank     239The Values of Trade     243Cities and the Wealth of Nations      249Globalization and "Turbo-Capitalism"     253Micro-Banking     258The {dollar}27 Solution     258The Grameen Bank     260The Bicycle Bankers     263The Mondragon Cooperative Corporation     267Agency and Organization     267The History of the MCC     271Organization     275Workers as Owners     277The Just Wage and Business     280The Just Wage and Business     280Values and Corporate Value     281Principles of the Just Wage     282Job Design     284Organization and Culture     289Building an Ownership Society     294Private Property and the Common Good     294A Short History of Corporations     296Ownership and Use     302The Ownership Society     311Property and Freedom     316The Vocation of Business     317The Free Market and Freedom     317The Vocation of Business     322Notes     327Bibliography     349Index     355