This website focuses on the technical aspects of Lonergan’s macroeconomic dynamics. However, we have also pointed out that the science of economics must accept its rightful place within the broader culture consisting of technology, economics, and politics.  And this culture itself  stands within a hierarchy of values. Further, we have emphasized the need to achieve The Good of Order.  (Also see CWL 12, 496-7)

On the hundredth anniversary of Pope Leo XIII’s Encyclical, Rerum novarum, Pope John Paul II issued the Encyclical, Centesimus Annus, treating The Good of Order, the dignity of humans, the dignity of work, the right to private property, the right to freedom, the evils of Marxist totalitarianism, and the foundation of society in truth.

John Paul II (1991), Centesimus annus, (Encyclical Letter on the hundredth anniversary of Rerum novarum), Vatican

Centesimus Annus should be read by all economists who seek to be open-minded thinkers having broad perspectives, a hierarchy of values, and thus an understanding of the difference between the concepts of liberty and totalitarianism, morality and immorality, right and wrong.  (Continue reading)