Rerum Novarum, the papal encyclical of Pope Leo XIII, has had a major impact on Catholic thinking. Issued in 1891 it immediately received much public attention. This was especially the case in the United States where it was seen as the response re-affirming the sanctity of private property long sought by the American bishops in the public debates with Henry George and his supporters. George was a central public figure in the United States, England and Ireland, whose speeches and writings (...) supported free market ideas, especially free trade. But, George's main idea was that the sole tax should be a singletax on land values.His justification seemed to place the sanctity of private property in doubt. Since some Catholics were strong supporters of George, the Catholic bishops were anxious that the Pope clearly state the morality of private property. Rather than condemn the writings of George directly, Leo XIII prefered to reaffirm the sanctity of private property in a positive form. The American origins of Rerum Novarum had not been appropriately recognized.Rerum Novarum, l’encyclique papale de Léon XIII, a eu un impact majeur sur la pensée catholique. Publiée en 1891 elle reçut immédiatement une très grande attention. Ce fut spécialement le cas aux Etats-Unis où elle fut prise comme une réponse réaffirmant le caractère sacré de la propriété privée longtemps recherchée par les évêques Américains dans leurs débats publics avec Henry George et ses partisans. George était un personnage public central aux Etats-Unis, en Angleterre et en Irlande, dont les discours et les écrits étaient en faveur des idées du libre marché et notamment celles qui concernent l’échange libre. Mais, l’idée majeure de George était que le seul impôt qui devait exister était celui sur la valeur des terrains.Sa justification semblait émettre des doutes à l’égard du caractère sacré de la propriété privée. Alors que quelques Catholiques étaient de forts partisans de George, les évêques catholiques tenaient beaucoup à ce que le Pape se positionne clairement sur la moralité de la propriété privée. Plutôt que de condamner directement les écrits de George, Léon XIII préféra réaffirmer le caractère sacré de la propriété privée de manière positive. Les origines américaines de Rerum Novarum n’ont pas été reconnues à leur juste valeur. (shrink)

Rerum Novarum, the papal encyclical of Pope Leo XIII, has had a major impact on Catholic thinking. Issued in 1891 it immediately received much public attention. This was especially the case in the United States where it was seen as the response re-affirming the sanctity of private property long sought by the American bishops in the public debates with Henry George and his supporters. George was a central public figure in the United States, England and Ireland, whose speeches and writings (...) supported free market ideas, especially free trade. But, George's main idea was that the sole tax should be a singletax on land values.His justification seemed to place the sanctity of private property in doubt. Since some Catholics were strong supporters of George, the Catholic bishops were anxious that the Pope clearly state the morality of private property. Rather than condemn the writings of George directly, Leo XIII prefered to reaffirm the sanctity of private property in a positive form. The American origins of Rerum Novarum had not been appropriately recognized.Rerum Novarum, l’encyclique papale de Léon XIII, a eu un impact majeur sur la pensée catholique. Publiée en 1891 elle reçut immédiatement une très grande attention. Ce fut spécialement le cas aux Etats-Unis où elle fut prise comme une réponse réaffirmant le caractère sacré de la propriété privée longtemps recherchée par les évêques Américains dans leurs débats publics avec Henry George et ses partisans. George était un personnage public central aux Etats-Unis, en Angleterre et en Irlande, dont les discours et les écrits étaient en faveur des idées du libre marché et notamment celles qui concernent l’échange libre. Mais, l’idée majeure de George était que le seul impôt qui devait exister était celui sur la valeur des terrains.Sa justification semblait émettre des doutes à l’égard du caractère sacré de la propriété privée. Alors que quelques Catholiques étaient de forts partisans de George, les évêques catholiques tenaient beaucoup à ce que le Pape se positionne clairement sur la moralité de la propriété privée. Plutôt que de condamner directement les écrits de George, Léon XIII préféra réaffirmer le caractère sacré de la propriété privée de manière positive. Les origines américaines de Rerum Novarum n’ont pas été reconnues à leur juste valeur. (shrink)

This paper traces back the sources of our present legal system and of market economy to Medieval Europe which itself benefited from Hellenistic and Roman legal culture and commercial practices. Roman provinces placed Rome in the wider Greek cultural and commercial world. If Aristotle was already transcending the narrow polis-based conceptions of his predecessors, after him Hellenistic Civilization saw the emergence of a new school of philosophy: Stoicism. The legal thought in the Latin West will hence be characterized by Cicero’s (...) writings and its Stoic sources. The Roman legal system was similar to the later northern European customary law and the English common law; Roman law was evolutionary and customary. The rise of Western individualism, whether it dates back to St. Augustine in the fifth century, or to the two Papal Revolutions of Gregory I (establishing the nuclear family as the core of individualism) and of Gregory VII, also played a crucial role in shaping the western legal tradition. The paper describes the main forces that led to this second (Gregorian) revolution. Monasticism is one of them. Benedictine monasticism plaid a leading role in the Peace of God Movement. Hence collective oath-taking by groups in the name of peace was essential in the founding of cities and in the formation of guilds. Europe’s economic resurgence in the Eleventh Century was on the basis of the creation of the rule of law by the Peace of God movement. This movement also allowed for Europe’s agricultural economy to progress. Indeed, the European Middle Ages is one of the major periods of technological innovation in the history of the world. The Gregorian Revolution itself was supported and financed by the Commercial Revolution: Italian bankers sustained Papal reformers against the Emperors. The independence of the Italian cities and provinces reveals one of the most important consequences of the Gregorian Revolution: the polycentricism of Western Europe. This Revolution also witnessed the first large number of political pamphlets in European history; the Gregorian clergy emphasizing a compact theory of government. Soon after, the order of Cistercians was founded (1098) and underwent spectacular growth during the next two centuries. The Cistercians accepted no rents or labor services from feudal donors but would take only full possession of land to do with it as they wished.These monasteries were the most economically effective units that had ever existed in Europe, and perhaps in the world, before that time. Finally, the Magna Carta (1215) that will be so influential on modern political thought can be seen as a direct consequence of the Gregorian Revolution. (shrink)

Bruce Caldwell’s Hayeks’ Challenge is a significant contribution to philosophy and to economics. F. A. Hayek received the Nobel Prize in Economic Science in 1974. During the Methodology Conflict, the German Historical School, drawing on Hegel and Herder, rejected natural law doctrines and claimed that each nation was unique with its own nature. The Austrian School started from the universality of human nature.

Bruce Caldwell’s Hayeks’ Challenge is a significant contribution to philosophy and to economics. F. A. Hayek received the Nobel Prize in Economic Science in 1974. During the Methodology Conflict, the German Historical School, drawing on Hegel and Herder, rejected natural law doctrines and claimed that each nation was unique with its own nature. The Austrian School started from the universality of human nature.