(n.): The structure and organization of society’s resources and the system for allocating them. These resources include: land and other natural resources, food, water, medical services, man’s own labor, leisure, and attention, and others. These all form the basis for the financial support and the stability of individuals, families, and society.
Work (Human Labor)
:
(n.): The duty and right of every person to engage in activity to sustain
and improve himself
and his family. Work is
a collaboration of man and woman with God in prolonging and perfecting the work of creation by subduing the earth, and honors the gifts and talents God has given to human beings.
The Universal Destination of Goods
:
(n.): The doctrine that
the goods of creation
are meant for the whole human race. This doctrine remains fundamental even if the promotion
of the common good requires respect for the right to private property and its exercise.
Just Wage
:
(n.): The legitimate fruit of one’s work; payment that
fairly compensates an employee for work done that allows the opportunity for him to provide a dignified livelihood for himself and his family
on the material, social, cultural, and spiritual levels, taking into account the role and productivity of each employee, the state of the business,
and the common good. An agreement between parties is not sufficient in itself to morally justify a wage.
Right of Association
:
(n.): A person’s right to join and leave a group and for the group to collectively negotiate for its self-interest. Workers have the right to organize themselves into this kind of group known as a union to negotiate, and to strike if necessary, for better working conditions.
Capitalism
:
(n.): An economic system based on the private ownership of the means of production and the volununtary exchange of labor and goods in
which the production and value of labor and goods
is determined by the producers and consumers themselves (supply and demand).
Laissez-faire
:
(n.): An economic policy in which market transactions are made freely by individuals and businesses without government interference or regulation beyond what is necessary to maintain property rights.
Preferential Love for the Poor
:
(n.): The priority given to those oppressed by poverty as well as to all vulnerable people in terms of charitable love, help, and services, in imitation of Christ who identified Himself with the least of us.
Corporal Works of Mercy
:
(n.): Loving actions taught to us by Christ that help us meet a person’s physical needs. Corporal means “of the body.” The Corporal Works of Mercy are: feed the hungry, give drink to the thirsty, clothe the naked, shelter the homeless, visit the sick, visit the imprisoned, and bury the dead.