Prof. Franz Josef Stegmann Bethlehem Social ... - Ordo Socialis
Prof. Franz Josef Stegmann Bethlehem Social ... - Ordo Socialis
Prof. Franz Josef Stegmann Bethlehem Social ... - Ordo Socialis
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<strong>Stegmann</strong><br />
dilemma be solved? The approach of "the framework as the main place of morality in market<br />
economy" attempts to do so.<br />
While individual economic participants rightfully intend to make a profit, the aim of what we<br />
call national economy is the best possible provision for all. Historical experience and modern<br />
economics have taught us that the economic activities of individuals do not, however,<br />
automatically realise this aim. This can only be done within an adequate framework. The<br />
framework has to make individual market participants act according to the welfare of all; it is<br />
the main place where morality is to be situated.<br />
Within the framework, the ability, economic efforts and skills of the individuals are<br />
challenged and competition works. In this way and at the same time, economic competition<br />
and social justice come - on different levels - into effect: market economy and morality are<br />
therefore, and in this context, complementary. Emphasis on the framework as the main place<br />
of morality does not make individual moral commitment obsolete. Individuals have to observe<br />
the rules set to their economic activities: it is their duty to contribute to the shaping of the<br />
framework by contributing their (economic, political and) moral convictions. They might<br />
make additional efforts for moral purposes as long as fellow competitors do not exploit such<br />
efforts, but perhaps take them on. However, the key role of the framework remains most<br />
important and must not be overlooked.<br />
As a result, economic ethics in the mass society of our time, as well as Christian <strong>Social</strong><br />
Teaching, are fundamentally an ethics of institutions and structures. And the shaping of the<br />
framework in alignment with the common good and conscious observance of its rules by the<br />
individual market participants ensure that economic competition and social justice. market<br />
economy and morality come — on different levels — into effect and complement each other.<br />
At the same time, they are an essential contribution to the success of <strong>Social</strong> Market Economy.<br />
* This paper was presented by <strong>Prof</strong>. <strong>Stegmann</strong> at the Winter School – St. Augustine College,<br />
Johannesburg (July 1998) – under the title “Market economy and morality”. The paper has<br />
since been revised and extended.<br />
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