Sep 3, 2012
Labor Day gives many Americans a chance to extend their weekend away from work.
It can also provide people of faith in the United States an opportunity to reflect on the nature of economic activity and the proper roles of their government in it. For Catholics, the words of Blessed John Paul II can provide a common place to start.
To Stabilize, Sustain…
In 1991 John Paul II spent an entire section in an encyclical letter, Centesimus Annus, discussing general functions of the government – what he called the “State” – in economic affairs (§48). The Holy Father began by stressing how a market economy takes as fact “sure guarantees” of individual freedom, private property, stable currency, and efficient public services. Seeking to achieve the full security of such guarantees, the first role of government becomes stabilizing economic activity. Stable economies, he concluded, allow workers and producers to “enjoy the fruits of their labors” and “feel encouraged to work efficiently and honestly.”