Customer Reviews

On The Hundredth Anniversary Rerum Novarum

5 star:		(1)
4 star:		(0)
3 star:		(0)
2 star:		(0)
1 star:		(1)

 

 

The comments of the other reviewer prompted me to write this review, with the title of a Pastoral letter of the American Bishops written in 1989. This is one of the most powerful encyclicals ever written, with clear lessons for economic management and economic justice. Is was written on the hundredth anniversary of Rerum Novarum, another encyclical that in midst of the industrial revolution, in the late 19th century, was arguing for fair treatment of workers. This one is broader and covers most topics of interest for today's economy. This has been followed by another encyclical by Pope Benedict, Charity in Truth: Caritas in Veritate, which expands on the same themes, although it is a bit more theological than Centesimus Annus (the title in Latin). In order to excite the reader I will reproduce my favorite quote, that I use in my Corporate Social Responsibility lectures: "The Church acknowledges the legitimate role of profits as an indication that a business is functioning well......Profit is a regulator of the life of a business, but is not the only one; other human and moral factors must also be considered, which, in the long term, are at least equally important for the life of a business". Wish these lessons had been known and applied before the recent financial crisis, maybe it would have been avoided.

For me, this papal letter was a rambling waste of time. The fault can't be in the translation to English, because the pattern continues throughout the entire 70 pages. If it isn't required reading for a class (which it was for me), save your $5 plus shipping and invest it elsewhere.