Have you read Rerum Novarum: On Capital and Labor by Pope Leo XIII? It's very interesting. I recommend it. In the opening paragraphs we find:
Hence, by degrees it has come to pass that working men have been surrendered, isolated and helpless, to the hard heartedness of employers and the greed of unchecked competition. The mischief has been increased by rapacious usury, which, although more than once condemned by the Church, is nevertheless, under a different guise, but with like injustice, still practiced by covetous and grasping men. To this must be added that the hiring of labor and the conduct of trade are concentrated in the hands of comparatively few; so that a small number of very rich men have been able to lay upon the teeming masses of the laboring poor a yoke little better than that of slavery itself.
I was being charitable....