The Bishops Confront Capitalism

The Catholic bishops hadn’t even produced any part of a first draft of their pastoral letter on “Catholic Social Teaching and the U.S. Economy,” when Business Week and Fortunestarted whimpering. Business Week (12/19/83) quoted such authorities as Van P. Smith, Catholic businessman of Muncie, Indiana: “I would be exceedingly disappointed if the Church took a position that was critical [of capitalism].” Fortune (12/26/83) tried ...