We will begin by summarizing current thinking in the economic profession about the requirements for economic efficiency . We will then present the economic argument for market failure , particularly in the case of public goods . With the concept of merit good we encounter the ethical dimension in economic thought. This concept will allow us to articulate the problems of property rights , anti-trust legistion , subsidies for education and social legislation . The implementation of ethical principles takes place within the context of existing ethos pattern .
Religious ethics plays an important role in the implementation of social justice.
Tenth Anniversary Edition of Economic Justice for All . Centesimus Annus . A number of publications will be made available on diskette. A number of articles by economists, philosophers, and social scientists will be put on reserve in the library.