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Wait, so your argument is that liberalism can take the form that uses the Catholic concept of the common good? That gives the whole case away. If it is only possible, but not necessary, that the common good is an element of liberalism, then that is a failure of liberalism! The common good is central to Catholic social thought. The common good is incidental, at best, to liberalism.

You say that nobody can accept liberalism if it means such and such. But I tell you that it means that exactly. Whatever gets papered over in theory is refuted by reality and, for that matter, actual public discourse about liberalism. If liberalism is decentralized, general public discourse about liberalism matters more than theory. If liberalism is not decentralized, then it is not what it says it is. I don't see a way for you out of this dilemma.

I'm also curious about the positive citation for market mechanisms. No doubt there are many Catholics who love speculation, but that is against the teaching of the church against speculation. If you don't mean speculation, then you mean something completely different than the market which exists among us, with its absolute rather than relative right to private property---the absolute right to property value denied by Popes and the entire economic tradition of the church---and the trading of otherwise meaningless securities which have no value except that their market value increases and decreases and can be sold at a profit or loss. At the face of it, this is strictly speaking speculation. Even dividends paid today are completely divorced from the actual valuation---much less the actual value---of the company.

Of course, if market mechanisms really just refers to people making things and selling them, with a preferential right for those at the lowest levels to make purchasing and manufacturing decisions for themselves, then there's a place for that, but let's not fool ourselves that it's something we have. Most people work for a wage or salary rather than from ownership, and most wage earners get paid what they're told they will get paid, and aside from the odd employee owned or distributist model of company, employees do not in principle see a share of profit except out of the passions of their employer. It's like the worst caricature of Late Middle Ages or the Early Modern Period, only the claim to power comes from having ownership rather than noble birth, and only that this caricature is real this time.

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