I found your previous comment chain on the matter, in which you conflated Catholicism and Conservatism, the second of which I'm sure you have your own personal definition, as there is no Conservative church that decides on doctrine.

Catholic social teaching, which this encyclical is grounded on, has it's roots in Rerum novarum (1891) by Leo XIII (the Pope's namesake) and it dealt with the changing conditions of people due to the industrial revolution. We are potentially in the midst of another revolution (I suspect it will be less significant the the IR), so it is prudent of the church to develop a house view.