Adam Smith and Catholic Social Teaching

• Published in: Journal of business ethics Vol. 170; no. 2; pp. 401 - 411
• Main Author: Martins, Nuno Ornelas
• Format: Journal Article
• Language: English
• Published: Dordrecht Springer Netherlands 01-05-2021; Springer Nature B.V
• Subjects: Business and Management; Business Ethics; Catholics; Common good; Education; Ethics; Human dignity; Intervention; Management; Metaphysics; Ontology; Original Paper; Philosophy; Political economy; Principles; Quality of Life Research; Subsidiarity; Teaching; Adam Smith; Catholic Social Teaching; Human dignity; Sympathy; Dignity of work
• ISSN: 0167-4544; 1573-0697
• DOI: 10.1007/s10551-019-04366-7

The connections between Adam Smith and Catholic Social Teaching (CST) raise several questions. The principle of subsidiarity adopted in CST, according to which higher associations should not replace subordinate organizations on what the latter can do, seems to be in line with the idea that governmental intervention in the market sphere should be restricted to the minimum required, in line with what is typically seen as Smith’s view. But the principle of the common good would also recommend intervention from political authorities in order to ensure that the common good is achieved. Here I shall argue that this question must be addressed taking into account another principle of CST, the principle of solidarity, and also the basic principle of CST, regarding human dignity. To do so, it is necessary to understand how the various principles of CST spring from the notion of
imago Dei
in CST, which is behind the notion of human dignity. This leads to a relational conception of human beings which can be fruitfully articulated with Smith’s moral philosophy and political economy.