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Just Money: How Catholic Social Teaching can Redeem Capitalism
9th October 2014
Can we just go on with business as usual? The banking crash and ensuing global recession revealed deep problems with free market economics. Yet after five years of economic instability and falling living standards, market fundamentalism – the conviction that market forces should be interfered with as little as possible – is somehow still standing with no serious rivals in the frame.
In this essay, respected journalist and commentator Clifford Longley points to a way forward. With the long-standing and highly esteemed model of Just War theory in the background, he unpacks the theory of Just Money. Drawing on the extensive and detailed tradition of Catholic Social Thought – a tradition with roots in classical philosophy and Catholic teaching that is accessible to people of all faiths and none – Longley sets out an alternative vision.
The answer is not to abandon the business economy but to humanise it, thereby making it fairer, more efficient and user-friendly, never forgetting that, like the Sabbath, the market was made for man and not man for the market.