In the first place, it is obvious that not only is wealth concentrated in our times but an immense power and despotic economic dictatorship is consolidated in the hands of a few, who often are not owners but only the trustees and managing directors of invested funds which they administer according to their own arbitrary will and pleasure. This dictatorship is being most forcibly exercised by those who, since they hold the money and completely control it, control credit also and rule the lending of money.
Pope Pius XIIn the present state of human society, however, We deem it advisable that the wage-contract should, when possible, be modified somewhat by a contract of partnership, as is already being tried in various ways to the no small gain both of the wage-earners and of the employers. In this way wage-earners are made sharers in some sort in the ownership, or the management, or the profits.
Pope Pius XIIf Socialism, like all errors, contains some truth (which, moreover, the Supreme Pontiffs have never denied), it is based nevertheless on a theory of human society peculiar to itself and irreconcilable with true Christianity. Religious socialism, Christian socialism, are contradictory terms; no one can be at the same time a good Catholic and a true socialist.
Pope Pius XIThose wretches tainted with the error of Indifferentism and Modernism hold that dogmatic truth is not absolute, but relative: that is, that it must adapt itself to the varying necessities of the times and the varying dispositions of souls, since it is not contained in an unchangeable revelation, but is, by its very nature, meant to accommodate itself to the life of man.
Pope Pius XIIt will be impossible to put these principles into practice unless the non-owning workers through industry and thrift advance to the state of possessing some little property.
Pope Pius XIFor they have always unanimously maintained that nature, rather the Creator Himself, has given man the right of private ownership not only that individuals may be able to provide for themselves and their families but also that the goods which the Creator destined for the entire family of mankind may through this institution truly serve this purpose.
Pope Pius XI