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Since “unfettered” = not bound by shackles and chains/unrestrained, the term is meaningless – such a situation exists nowhere. That imperfections exist is part of the warp and woof of mankind. That laws may, can and do undergo improvement in virtually every sphere of life and occupation is part of man’s imperfection and his ability to solve problems. On moral issues, laws today are too often retrograde.powerofk #79
Unfettered capitalism exists anywhere any country refuses to (or is unable to) instill or enforce just laws regarding trading, company merging, and the payment of taxes. Unfettered capitalism happens when a country decides that the interests of those who consider money their god trump the interests of the rest of society.
This phobia however can exist in the minds of those who do not know of, or fail to appreciate, the great developments in the discoveries of the Catholic Late Scholastics and the recognition given to free enterprise by Bl John Paul II in Centesimus Annus, 1991:
CA 42. ‘Returning now to the initial question: can it perhaps be said that, after the failure of Communism, capitalism is the victorious social system, and that capitalism should be the goal of the countries now making efforts to rebuild their economy and society? Is this the model which ought to be proposed to the countries of the Third World which are searching for the path to true economic and civil progress?
‘The answer is obviously complex. If by “capitalism” is meant an economic system which recognizes the fundamental and positive role of business, the market, private property and the resulting responsibility for the means of production, as well as free human creativity in the economic sector, then the answer is certainly in the affirmative, even though it would perhaps be more appropriate to speak of a “business economy”, “market economy” or simply “free economy”.
‘CA 43. The Church has no models to present;’
In the Encyclical Letter Sollicitudo Rei Socialis (On Social Concerns), 1987, #42, Pope John Paul II emphasises: “Likewise, in this concern for the poor, one must not overlook that special form of poverty which consists in being deprived of fundamental human rights, in particular the right to religious freedom and also the right to freedom of economic initiative.”
What is necessary is to strive for improvement in every area of life so threatened today, but setting up a straw man helps no one.