Catholic Social Teaching in the Modern World: Vocab

Capitalism

An economic and political system in which trade and industry are controlled by private owners for profit

Socialism

A social economic system based I. The common ownership of the means of production and exchange of wealth

Communism

A social or political system in which all economic and social activity is controlled by a totalitarian government dominated by a single political party

Solidarity

The virtue of social charity, friendship, and responsible sharing whereby the interdependence among all people is recognized

Stewardship

The proper use of the gifts Gos has given us, in particular, the care for creation that will allow the earth and its resources to flourish and last for future generations

Subsidarity

The moral principle that large organizations of governments should not interfere with, or take over responsibilities that can be administered by individuals and local organizations, but rather should support them, always with a focus on the common good