Father James Farfaglia on the Case for a Free Market Economy

"From Wall Street to the international protests that fill the news, the cacophony of slogans, anger and ideologies all need a response from the social teachings of the Catholic Church.  When we look to the Compendium of the Social Doctrine of the Church we will find an objective source of answers for the present turbulent economic crisis."

In a recent commentary, Father James Farfaglia ( pastor of Our Lady of Guadalupe Church, Corpus Christi, Texas) reflected on the Church's social teaching as it applies to a free market economy. Among the considerations mentioned by Fr. Farfaglia:

• the social teaching of the Church does not have a problem with a free market economy;
• the social teaching of the Church does not have a problem with people who are successful in their business endeavors;
• there must be a relationship between the economy and morality; and
• any economy, especially a market driven economy, will need some kind of regulation and intervention from the State in order to guarantee individual freedom, private property, a stable currency, and stable public services.

To access the complete post by Father James Farfaglia, please visit:

The Happy Priest: The Case for a Free Market Economy (24 OCT 11)