Free Markets and the Culture of Common Good

  • Martin Schlag
  • Juan Andrés Mercado

Part of the Ethical Economy book series (SEEP, volume 41)

Table of contents

  1. Front Matter
    Pages i-xi
  2. Free Market Economy and the Role of State Authorities

  3. Social Responsibility, Entrepreneurship and Virtues

  4. Back Matter
    Pages 251-260

About this book


Recent economic development and the financial and economic crisis require a change in our approach to business and finance. This book combines theology, economy and philosophy in order to examine in detail the idea that the functioning of a free market economy depends upon sound cultural and ethical foundations.

The free market is a cultural achievement, not only an economic phenomenon subject to technical rules of trade and exchange. It is an achievement which lives by and depends upon the values and virtues shared by the majority of those who engage in economic activity. It is these values and virtues that we refer to as culture. Trust, credibility, loyalty, diligence, and entrepreneurship are the values inherent in commercial rules and law. But beyond law, there is also the need for ethical convictions and for global solidarity with developing countries. This book offers new ideas for future sustainable development and responds to an increasing need for a new sense of responsibility for the common good in societal institutions and good leadership.


Business Ethics CSR Capitalism and Social Change Caritas in Veritate Catholic Social Teaching Christian Tradition and Modern Economy Common Good Corporate Social Responsibility Culture of Common Good Culture of Greed Ethical Dimensions of Finance Financial Rewards Free Market Economy Free Markets and the Common Good Market Efficiency Martin Rhonheimer Papal Encyclical Periods of Crisis Rerun Novarum Role of State Authorities in Economic Sectors SME's Small and Medium Enterprise Social Responsibility Social Teaching of the Church

Editors and affiliations

  • Martin Schlag
    • 1
  • Juan Andrés Mercado
    • 2
  1. 1., Moral TheologyPontificia Universita' della Santa CroceRomeItaly
  2. 2., PhilosophyPontificia Universita' della Santa CroceRomeItaly

Bibliographic information