RERUM NOVARUM.
Encyclical of Pope Leo XIII, issued on May 15, 1891, on the condition of labor. It refutes the theories of the socialists and defends the rights of private ownership. It advises employers and workers to organize into both mixed and separate associations for mutual help and self-protection.
What Fr Hardon doesn't mention is that it also refutes the theories of the Manchester liberals and laissez-faire ideologists of capitalism, and laid the groundwork for the development of a truly Catholic approach to economics in such movements as Distributism, Solidarism, die Vogelsang-Schule, Synarchism in Mexico, Christian Syndicalism, etc.
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