Globalization and Economic Justice: A Catholic Social Teaching Perspective
Kishor Thanawala
Villanova University, USA
Volume 4: 2009, pp. 225-238; ABSTRACT
Problems of poverty and justice are at the core of the social question in Catholic Social Teaching. Mater et Magistra (1961)addressed the theme of justice between countries at different stages of economic development. Economic relations between wealthy and poor countries as well as the impact of globalization on low-income groups have been extensively addressed in several Papal Encyclicals since 1961. We believe that Catholic Social Teaching provides a useful framework to introduce students to the theme of social justice in the context of globalization. Students, especially those specializing in management and finance, need to appreciate that the economy is not a self-contained system. It is embedded in society. Social and political institutions, therefore, constrain economic analysis. Markets cannot function without a stable legal and political environment. Discussions pertaining to economic justice should, therefore, be accorded a high priority in the education of students at Business Schools.
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