On National Review Online, Acton Research Director Samuel Gregg reviews a new document from the Vatican’s Pontifical Council for Justice and Peace titled, “The Vocation of the Christian Business Leader.” This follows the PCJP’s controversial “note” on the global financial system issued in October. Gregg says the “Business Leader” document:

Though it doesn’t shy away from making pointed criticisms of much contemporary business activity — and there is much to criticize — the Note articulates, perhaps for the first time in the Catholic Church’s history, a lengthy and thoroughly positive reflection from a body of the Roman Curia about the nature and ends of business.

Unlike the October 2011 Note, this new document avoids grand theorizing about the nature of economic development throughout the 20th century. Nor does the Note lend itself to absurd claims that the Church is to “the left of Nancy Pelosi” on economic issues. Instead, this text’s analysis of life as a business leader is rooted in a sophisticated appreciation and application of the principles of Catholic moral and social teaching. It also reflects a background of solid natural law reasoning about what Benedict XVI has called “integral human development,” and recognizes the sheer diversity of forms assumed by business in the modern economy. To that extent, the Note reflects a very e (and much over-due) “bottom-up” rather than “top-down” method of analysis of life in business.

So what are some of the document’s key themes?

Read “In Praise of Business: A New ‘Note’ from Justice and Peace” by Samuel Gregg on National Review Online.