U.S. Catholic Bishops, 1986The U.S. Economy Today: Memory and Hope

The U.S. value system emphasizes economic freedom. It also recognizes that the market is limited by fundamental human rights. Some things are never to be bought or sold [4]. This conviction has prompted positive steps to modify the operation of the market when it harms vulnerable members of society. Labor unions help workers resist exploitation. Through their government, the people of the United States have provided support for education, access to food, unemployment compensation, security in old age, and protection of the environment. The market system contributes to the success of the U.S. economy, but so do many efforts to forge economic institutions and public policies that enable all to share in the riches of the nation. The country’s economy has been build through a creative struggle; entrepreneurs, business people, workers, unions, consumers, and government have all played essential roles. continue reading

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