In this lesson, we study St. Joseph the Workman and examine the Church's teachings on economics as well as the intrinsic errors of Communism.
All CatechismClass Lessons follow our time-tested 7 Step format: Introduction, Opening Prayers, Scripture and Commentary, Catechism Passages, Integration of the Lesson Topic, an activity, and a closing prayer. Quizzes end each of the lessons.Preview This Lesson
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It is of no coincidence that on this day we celebrate the Feast of St. Joseph the Worker. In 1955, the Holy Father of blessed memory, His Holiness Pope Pius XII instituted the Feast of St. Joseph the Workman to be celebrated each year on May the 1st. May 1st is also May Day, the obligatory Communist holiday. St. Joseph’s Feast under the title of Workman is very much set against the Communists so that we may have a heavenly patron, guide, and father who himself knew hard work and discipline and yet who would never have approved of atheistic Communism.
The Catholic Church—the Founder of Monetary Economics
It will come to no surprise to someone familiar with history that the Roman Catholic Church truly built Western Civilization. Even if you are familiar with the Church's role in agriculture, industrial production of iron ore, translation of ancient Latin and Greek texts, formulation of international law, and astronomy, you may be unaware of the Church's role in economics.
The key in self-education and in the education of your children is to find an appropriate text that accurately addresses not only the Church's contributions but also refutes the errors of modern economics, including Communion and Socialism.
The Church's role in economics is not new—it goes back over 700 years! San Bernardino of Siena (1380 – 1444) was the first theologian after Olivi to write an entire work systematically devoted to scholastic economics. But, he was not even the first, illustrating that the Church's involvement in political and social life was (and is) necessary to sustain a culture with a proper ordering.
The Catholic Church can be credited to founding monetary economics and the value theory based on subjective utility. This theory stands in sharp contrast to the Labor Theory of Value, which has its roots in the Communist Manifesto of Karl Marx.
Under the Labor Theory of Value, an object's worth is said to not be based on subjective utility but rather on the labor added to the object. Yet, in a common refutation of this theory, let us consider the case of a painting. How can this theory be valid when a painting's value rises after the death of its creator, even after no additional labor has been expended? Marx could not explain this phenomenon. Only the subjective value theory can explain value.
Simply put, the value of a good does not depend on the number of labor hours put into the good. To succumb to thi... Please purchase this lesson to continue learning.
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