I was recently asked:
“Between a Socialist system of economics or a Free market Capitalist system, which is more Moral? Which system best represents a Christian view?
My short response:
The Catechism reflects the teaching of the Church by stating that a society should protect the right to private property and to free enterprise (CCC 2211, 2402). This is the basis of a free market system and the freedom and security of individual rights and the family.
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Though the Church teaches the fair and equitable distribution of material things among peoples, it does not approve of rewarding sloth nor punishing industrious enterprise to create wealth. God spoke through Moses who said, “God gives the power to make wealth” (Deut 8:17-18). Wealth is not an evil but a blessing and something that can be desired as a good thing and the rewards of honest labor and risk.
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The Catechism clearly expresses the duty of the individual and the state to use property justly and to care for the less fortunate. The socialist system usually penalizes hard work and industry while rewarding the opposite.
Democracy and Free Enterprise without a Christian philosophical base can quickly become a system of greed and oppression; on the other hand, socialism becomes a system of greed and oppression and the government will always grow and grow and cater to those who it feeds.
History has shown that every time a socialist or communist country exists it deprives the people of freedom and property and violates personal rights. Looking at countries in the world today that practice socialism proves the point. Consider Venezuela.
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The sinfulness and greed of Man makes this all difficult and a delicate balancing act. With a Christian consensus within a nation—as with the inception and beginnings of the United States—the goals are possible and for over 200 years approved workable.
But if there is a lack of moral and charitable consensus, the goals cannot be achieved and people are willing to give up their rights and freedoms bowing to a stronger government promising to insure peace and control and redistribution of wealth.
Catechism 2257 “Every society’s judgments and conduct reflect a vision of man and his destiny. Without the light the Gospel sheds on God and man, societies easily become totalitarian.” I would also say socialist.