A very good starting point for this discussion is Pope Leo XIII in his 1891 Encyclical
Rerum Novarum. It is an Encyclical on Labour and Capital. In it, he writes, observing the political and social landscape of the day,
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:
He is quick to point out that socialisation of the means of production is not the answer and that to do so would make the condition of the working man worse.
Leo pointed out that socialism does not help the poor. It reduces everyone to the same lowest common denominator of poverty and misery, while at the same time drying up the very sources of capital.
We should remember that Capitalism is a product of a Christian tradition. Capitalism is a transactional system. Transactions should be mutually beneficial and caried out with Christian charity and magnanimiity. Christianity has a history of charitable behaviour. If society behaved in the Christian manner that is its hallmark, then charity would be in abundance and the weak and disadvantaged would have nothing to fear. Governments cannot legislate “charity”. If they try, they will further weaken Christianity. The aim should be to revive Christian principles and the less fortunate will benefit.
Leo writes of accumulated wealth, *Of that which remaineth, give alms." It is a duty, not of justice (save in extreme cases), but of Christian charity - a duty not enforced by human law. But the laws and judgments of men must yield place to the laws and judgments of Christ the true God, who in many ways urges on His followers the practice of almsgiving - ‘It is more blessed to give than to receive"