Mr. Champion
Theology IV
3/22/17
Redistribution of Wealth The Catholic teaching on the economic system of capitalism is twofold; the church believes that free markets are paramount to a just society and drive progress for all of humanity, however, the Church also teaches that a fundamental error within capitalist economies is that of income inequality. Furthermore, the Catholic Church also teaches that a minimum wage is necessary and that said wage must be enough to allow a worker to proved a comfortable life for he and his family. I will attempt to dissect each of these teachings individually and to give reasoning as to why I agree or disagree with each. Firstly, the Catholic Church understands that free markets and property rights are …show more content…
The answer to that is simple too, charity. Charity is a different form of income redistribution in that it is completely voluntary. Not to mention that in western cultures, like the United States, charity is abundant, according to the Charities Aid Foundation the United States is the second most charitable country in the world, behind Myanmar, as of October 2016. Not only is the United states the country with the highest GDP according to CIA World Fact Book but the second most charitable, it's no wonder so many people hail the US as the greatest country in the world, we have the capacity and to help the most people globally and often …show more content…
One may challenge this reasoning by saying, "If there is no minimum wage then employers will simply refuse to pay workers anything," and initially that may be true, however no one will work free in a workforce based on consent, they won't work if they don't get paid, therefore incentivizing the employer to pay a worker for the value of their work they add to the business. The hand of the market will dictate wages and the best part of it will be that all of it will be
Theology IV
3/22/17
Redistribution of Wealth The Catholic teaching on the economic system of capitalism is twofold; the church believes that free markets are paramount to a just society and drive progress for all of humanity, however, the Church also teaches that a fundamental error within capitalist economies is that of income inequality. Furthermore, the Catholic Church also teaches that a minimum wage is necessary and that said wage must be enough to allow a worker to proved a comfortable life for he and his family. I will attempt to dissect each of these teachings individually and to give reasoning as to why I agree or disagree with each. Firstly, the Catholic Church understands that free markets and property rights are …show more content…
The answer to that is simple too, charity. Charity is a different form of income redistribution in that it is completely voluntary. Not to mention that in western cultures, like the United States, charity is abundant, according to the Charities Aid Foundation the United States is the second most charitable country in the world, behind Myanmar, as of October 2016. Not only is the United states the country with the highest GDP according to CIA World Fact Book but the second most charitable, it's no wonder so many people hail the US as the greatest country in the world, we have the capacity and to help the most people globally and often …show more content…
One may challenge this reasoning by saying, "If there is no minimum wage then employers will simply refuse to pay workers anything," and initially that may be true, however no one will work free in a workforce based on consent, they won't work if they don't get paid, therefore incentivizing the employer to pay a worker for the value of their work they add to the business. The hand of the market will dictate wages and the best part of it will be that all of it will be