The Catholic Church's point of view on priority of labor over capital

Elio Gasda

American Journal of Economics and Sociology, 2024, vol. 83, issue 1, 283-292

Abstract: In the 19th century, the Industrial Revolution transformed Western civilization in dramatic ways. Simultaneously, the market economy converted human labor into “merchandise”. Also in the 19th century, the reality of workers forced Pope Leo XIII to publish Rerum Novarum, the first encyclical of the Catholic Church's social doctrine. In 1981, Pope John Paul II, in Laborem Exercens, will affirm that the conversion of human labor into “merchandise” was generated by an anthropological inversion in the order of concepts: the priority of capital over labor. The value of labor cannot be fixed solely by the market law of supply and demand. The value of labor is measured, mainly, by the standard of dignity conferred on those who perform it. The great challenge is to rescue human labor as an activity of humanization and social fraternity. Human life and the common good are more valuable than capital.

Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:bla:ajecsc:v:83:y:2024:i:1:p:283-292

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