Purpose – Catholic social teaching is predicated upon their notion of “social justice.” In this perspective, the rich, as do the poor, have rights only to a bare subsistence level of income. Any wealth greater than this amount is owned by all of mankind, not by those who hold private...

Nozick (1977) was a methodological critique of the Austrian School of economics. He took the view that the praxeological school was guilty of a logical contradiction. On the one hand, it eschews the concept of indifference. On the other, it utilizes that of supply. But, Nozick argued, for there...