"Often hyphenated capitalisms obscure more than make clear but there is a case for making such distinctions in Catholic social teaching itself. In Centesimus Annus Pope St. John Paul II makes just such a distinction. He expresses approval for “capitalism” meant as “an economic system which recognizes the fundamental and positive role of business, the market, private property and the resulting responsibility for the means of production, as well as free human creativity in the economic sector,” while he frowns on “capitalism” that denotes “a system in which freedom in the economic sector is not circumscribed within a strong juridical framework which places it at the service of human freedom in its totality, and which sees it as a particular aspect of that freedom, the core of which is ethical and religious.”
Authentic capitalism grows out of an understanding of the human person in a social and political context ordered to the flourishing of human persons. It never stands alone but alongside other elements of a healthy social order."