“Just” Markets from the Perspective of Catholic Social Teaching
Nicholas J. C. Santos, Gene R. Laczniak
Journal of Business Ethics · 2009 · Volume 89 · Issue 1
DOI: 10.1007/s10551-008-9908-8
Abstract
The “justice of markets” is intricately connected to the treatment of the poor and the disadvantaged in market economies. The increased interest of multinational corporations in low-income market segments affords, on one hand, the opportunity for a more inclusive capitalism, and on the other, the threat of greater exploitation of poor and disadvantaged consumers. This article traces the contributions of Catholic Social Teaching and its basic principles toward providing insight into what constitutes “justice” in such “marketing to the impoverished” situations.
Keywords
Catholic Social Teaching, economic development, impoverished market segments, inclusive capitalism, justice in the marketplace, marketing and society
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