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Creative destruction is a long-recognized and accepted feature of a dynamic market economy. But can this destruction go too far? Should there be no limit to the number of jobs, families, and even entire communities that are sacrificed for the sake of greater economic production and efficiency? Could it be, as some critics claim, that a drastic fettering of markets is the only solution?Michael Watson and Grattan Brown acknowledge the collateral damage of markets and seek a solution that will temper negative effects without constricting the economic vitality needed for the continued amelioration of material deprivation in our world. Placing remunerative work at the center of their analysis, they identify a promising reform: flexible wage rates. They make the case that permitting compensation to mirror the market more closely will preserve employment, empower workers, and minimize the impact of economic volatility. Understanding that the common good is served by both economic dynamism and family and community stability founded on stable employment, Watson and Brown recommend flexible-wage policies as the best way forward.

The question of whether Catholicism is compatible with the American project in liberal democracy remains contentious. Many contemporary Catholic writers and intellectuals answer in the negative. In this volume, Professor John Pinheiro brings historical expertise to the topic, assessing the merits of the American project by focusing on the founding period. He examines the views of the founders and the realities of early American culture in light of the principles of Catholic social teaching and finds no simple answer to the question of Catholic and American compatibility. For the American experiment was not the realization of an ideological agenda; instead, it was the practical outworking of a commitment to protect traditional liberties. These liberties were largely consistent with Catholic doctrine. If the American project is not perfect, neither is it beyond redemption. Pinheiro points out that the task given to Catholics is not to raze the institutions of religious and political liberty but instead to "redeem the time" by embracing good and opposing evil in our own day.