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The Catholic tradition is to encourage formation in skills and the virtue of work while helping a society to help themselves. It was the great Catholic Late Scholastics who discovered the principles of free enterprise which shows clearly that it is the ethics of the individual which determines the right or wrong of an action in commerce as St Augustine taught – “wickedness is not inherent in commerce, but that with any occupation it was up to the individual to live righteously.” [John W Baldwin, *The Medieval Theories of the Just Price, The American Philosophical Society, 1959, p 15]
While the Sacred Scriptures condemn greed and wrong use of wealth, commerce or merchants are not condemned. Further proof that the virtues belong to, and are required of, the individual in business.
The fact is that Catholic philosophy and theology, based on reason and faith, enabled the birth of free enterprise. From the great monastic estates in the ninth century, immense increases in agricultural productivity grew from “such significant innovations as the switch to horses, the heavy moldboard plow, and the three-field system” away from subsistence agriculture to specialised crops and products, sold at a profit to initiate a cash economy. “As their incomes continued to mount, this led many monasteries to become banks, lending to the nobility.” The Victory of Reason, Rodney Stark, Random House, 2005, p 56, 58].
Randall Collins has noted that innovation and specialization in the monastic estates was “a version of the developed characteristics of capitalism itself… the dynamism of the medieval economy was primarily that of the Church.” [Randall Collins, The *Sociology of Philosophies: A Global Theory of Intellectual Change, 1998, Cambridge: Harvard University Press, p 47].
Fr Anthony G Percy concludes in his chapter Entrepreneurial Work: Scripture and Tradition: “The entrepreneur can (and should) work for the development of the common good. This is a consistent feature of the Fathers of the Church, of St Thomas Aquinas and other Scholastic theologians. Entrepreneurship in the Catholic Tradition, Fr Anthony G Percy, Lexington Books, 2010, p 81].
You can have anything goes in anything in life, but that is not part of Catholic developed free enterprise, it is instead part of fallen human nature which is why we have laws to control greed, connivance, deceit and cheating, which have no place in any human activity. Individual morality determines how owners, managers and employees treat each other and the customers, which requires the morality taught by Christ’s Church. That’s why laws seek to punish those who steal, cheat, swindle, and worse crimes. That’s why we have the Catholic Church to guide us – She who invented charity in the West.
While the Sacred Scriptures condemn greed and wrong use of wealth, commerce or merchants are not condemned. Further proof that the virtues belong to, and are required of, the individual in business.
The fact is that Catholic philosophy and theology, based on reason and faith, enabled the birth of free enterprise. From the great monastic estates in the ninth century, immense increases in agricultural productivity grew from “such significant innovations as the switch to horses, the heavy moldboard plow, and the three-field system” away from subsistence agriculture to specialised crops and products, sold at a profit to initiate a cash economy. “As their incomes continued to mount, this led many monasteries to become banks, lending to the nobility.” The Victory of Reason, Rodney Stark, Random House, 2005, p 56, 58].
Randall Collins has noted that innovation and specialization in the monastic estates was “a version of the developed characteristics of capitalism itself… the dynamism of the medieval economy was primarily that of the Church.” [Randall Collins, The *Sociology of Philosophies: A Global Theory of Intellectual Change, 1998, Cambridge: Harvard University Press, p 47].
Fr Anthony G Percy concludes in his chapter Entrepreneurial Work: Scripture and Tradition: “The entrepreneur can (and should) work for the development of the common good. This is a consistent feature of the Fathers of the Church, of St Thomas Aquinas and other Scholastic theologians. Entrepreneurship in the Catholic Tradition, Fr Anthony G Percy, Lexington Books, 2010, p 81].
You can have anything goes in anything in life, but that is not part of Catholic developed free enterprise, it is instead part of fallen human nature which is why we have laws to control greed, connivance, deceit and cheating, which have no place in any human activity. Individual morality determines how owners, managers and employees treat each other and the customers, which requires the morality taught by Christ’s Church. That’s why laws seek to punish those who steal, cheat, swindle, and worse crimes. That’s why we have the Catholic Church to guide us – She who invented charity in the West.