Cricket123
#555: It is true that Jesus does not condemn the possession of riches but, rather disordered attachment to them.
That’s much better than the sneer “Amos just loves that free market, doesn’t he? I’m kind of missing Christ’s pro-business message, too. Maybe in Matthew?” (#553)
However, this disordered attachment is the reality of the world and is what the social teaching of the Church is intended to counteract. For example, the Church is very clear on what constitutes a just wage, and goes even further to say that “…agreement between the parties is not sufficient to justify morally the amount to be received in wages.” (CCC 2434)
On wage fixing the Catholic Late Scholastics favoured leaving wage determination to the ‘common estimation’ of the market, since any other method is inherently arbitrary and leads to endless complications.
Here, Fr Brian Harrison, O.S., in *Religious Liberty And Contraception *is helpful (John XXXIII Fellowship Co-op (Australia), 1988, p 22-23), concerning “the practical order: human rights and duties.”
“But for a certain norm of action to be a matter of doctrine, it would clearly have to be proposed as a universally binding norm – one which is of certain validity always and everywhere.
Thus, we could not elevate to the status of doctrine a norm which is proposed provisionally, and as a subject to possible future correction after future consideration; nor one which is a particular ad hoc decision applying to given circumstances which might turn out to be transitory; nor, finally, one which is a concrete directive designed to give practical force to a doctrine which is in itself too broad or general to have much effect without such further application or specification. (An obvious example of such a doctrine would be the teaching – both natural and revealed – that a labourer deserves a just wage.)”
Everything outside of faith and morals is meant to be learned and developed by non-Magisterial Catholics (and others) in the world of living and acting using reason, without exercising "religious authority”.
In social teaching, despite breaching their own guidelines on occasion, Popes have warned explicitly against thinking that they have unique insights into specific matters of economic policy.
“If I were to pronounce on any single matter of a prevailing economic problem, I should be interfering with the freedom of men to work out their own affairs. Certain cases must be solved in the domain of facts, case by case as they occur…[M]en must realise in deeds those things, the principles of which have been placed beyond dispute…[T]hese things one must leave to the solution of time and experience.” [Pope Leo XIII. Quoted in *The Church And The Market, Dr Thomas E. Woods, Lexington Books, 2005, p 4].
“The Schoolmen determined that wages, profits and rents are not for the government to decide. Since they are beyond the sphere of distributive justice, they should be determined by common estimation in the market.”
Christians For Freedom, Dr Alejandro Chafuen, Ignatius 1986, p 122].