S
St_Francis
Guest
I would suggest that yours is a strawman argument. First, Pope Leo XIII did not condemn “unregulated capitalism;” second, he was very specific about what he was talking about, which did in fact exist in Europe and the US at the time he wrote, and which may still exist in former and current LDCs.What he tilts at has never existed in any society or country, only in the minds of a few economists; he is thus unable to point to any unregulated laissez-faire market. There is no such thing as “unregulated capitalism”. “Capitalism” is a derogatory term coined by Karl Marx.
When considering the intent of a person’s words, it is look to consider what he is talking about. The first point is that Pope Leo XIII discussed “unchecked competition.” What was the situation to which he referred?
I have numbered the points I think he writes about what led to the problem he discussed.
{3} In any case we clearly see, and on this there is general agreement, that some opportune remedy must be found quickly for the misery and wretchedness pressing so unjustly on the majority of the working class: [1] for the ancient workingmen’s guilds were abolished in the last century, and no other protective organization took their place. [2] Public institutions and the laws set aside the ancient religion. Hence, by degrees it has come to pass that working men have been surrendered, isolated and helpless, to the [3] hardheartedness of employers and [4] the greed of unchecked competition. The mischief has been increased by [5] rapacious usury, which, although more than once condemned by the Church, is nevertheless, under a different guise, but with like injustice, still practiced by covetous and grasping men. To this must be added that [6] the hiring of labor and the conduct of trade are concentrated in the hands of comparatively few; so that a small number of very rich men have been able to lay upon the teeming masses of the laboring poor a yoke little better than that of slavery itself.
And what were the conditions which the Pope decried? 16-hour days, pay so low for adults that their children had to work, very unsafe set-ups, etc.
And what did the Pope condemn in employers?
{20] …wealthy owners and all masters of labor should be mindful of this – that to exercise pressure upon the indigent and the destitute for the sake of gain, and to gather one’s profit out of the need of another, is condemned by all laws, human and divine. To defraud any one of wages that are his due is a great crime which cries to the avenging anger of Heaven. “Behold, the hire of the laborers . . . which by fraud has been kept back by you, crieth; and the cry of them hath entered into the ears of the Lord of Sabbath.”[6] Lastly, the rich must religiously refrain from cutting down the workmen’s earnings, whether by force, by fraud, or by usurious dealing; and with all the greater reason because the laboring man is, as a rule, weak and unprotected, and because his slender means should in proportion to their scantiness be accounted sacred.
So what can we gather from the Pope’s teaching here? Not a mere generalized condemnation of that which does not exist, but instead a system in which “unchecked competition” leads to virtual slavery of those so desperate as to be forced to accept those ghastly and unfair conditions.
So what can we gather from the Pope’s teaching here? Not a mere generalized condemnation of that which does not exist, but instead a system in which “unchecked competition” leads to virtual slavery of those so desperate as to be forced to accept those ghastly and unfair conditions.