Matt C. Abbott column
'The Price of Economic Injustice...'
Matt C. Abbott
Matt C. Abbott
March 4, 2010
March 4, 2010
The following is a reprint of an article from The Latin Mass journal. The article, "The Price of Economic Injustice: Rediscovering Catholic Just Price Doctrine," was written by Brian M. McCall, associate professor of law at the University of Oklahoma. Many thanks to Professor McCall and to John Blewett, editor of The Latin Mass journal, for allowing me to reprint this material.
The Price of Economic Injustice: Rediscovering Catholic Just Price Doctrine by Brian M. McCall
In a general sense, St. Thomas Aquinas predicted the paralysis of our financial and economic system which we have been witnessing for several months when he predicted that in a society where unjust exchange transactions dominate, eventually all exchanges will cease to occur. [1] St. Thomas also points out that although human law does not and cannot prohibit all injustice, [1] society cannot escape the consequences of transgressing the divine law which leaves "nothing unpunished." [3] Thus, at least part of the explanation for the current economic and financial crisis lies in continuous and systemic violations of natural justice by our economic system. Now, there is likely not one product or market or factor completely responsible for these injustices. Yet, there is one area of economic justice, understood in light of Catholic doctrine, which has certainly been largely ignored in 20th and 21st century America — the Just Price Doctrine. The search for causes and solutions to the current crisis must therefore involve in part a re-acquaintance by our society with this element of Catholic Truth. Continue reading this article here:
http://www.renewamerica.com/columns/abbott/100304
In a general sense, St. Thomas Aquinas predicted the paralysis of our financial and economic system which we have been witnessing for several months when he predicted that in a society where unjust exchange transactions dominate, eventually all exchanges will cease to occur. [1] St. Thomas also points out that although human law does not and cannot prohibit all injustice, [1] society cannot escape the consequences of transgressing the divine law which leaves "nothing unpunished." [3] Thus, at least part of the explanation for the current economic and financial crisis lies in continuous and systemic violations of natural justice by our economic system. Now, there is likely not one product or market or factor completely responsible for these injustices. Yet, there is one area of economic justice, understood in light of Catholic doctrine, which has certainly been largely ignored in 20th and 21st century America — the Just Price Doctrine. The search for causes and solutions to the current crisis must therefore involve in part a re-acquaintance by our society with this element of Catholic Truth. Continue reading this article here:http://www.renewamerica.com/columns/abbott/100304
Matt C. Abbott is a Catholic columnist with a Bachelor of Arts degree in Communication, Media and Theatre from Northeastern Illinois University in Chicago, and an Associate in Applied Science degree in Business Management from Triton College in River Grove, Ill. He has worked in the right-to-life movement and is a published writer focused on Catholic and social issues. He can be reached at mattcabbott@gmail.com
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