The Church recognizes the value of free economic activity, enterprise, and markets, while insisting that they serve the person and the common good rather than define them. Markets are not self-justifying; they require a moral and legal framework and must be judged by whether they serve human flourishing.

The Church rejects both collectivism and a capitalism unmoored from ethical and legal limits. See Centesimus Annus and Caritas in Veritate.