Studies of modern Catholic social doctrine commonly portray John Paul IIs magisterial teaching, especially that contained in the encyclical Centesimus Annus (1991), as having expressed the Roman Magisteriums most affirmative reflections on the nature and ends of private initiative, entrepreneurship, and business. This article illustrates that a number of Pius XIIs addresses and speeches contain very positive insights into free enterprise, business, and the process of exchange. In doing so, this article seeks to bring contemporary audiences attention to these writings, most of which have remained relatively obscure since the 1960s.
Anthony G. Percy, "Private Initiative, Entrepreneurship, and Business in the Teachings of Pius XII," Journal of Markets & Morality 7, no. 1 (Spring 2004): 7-25