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The Fallacies of Distributism

In certain disaffected pockets of the political left and right, more and more voices can be heard on behalf of an economic and social system known as distributism. According to the celebrated Catholic writers G. K. Chesterton and Hilaire Belloc, who popularized the idea in the early twentieth century, that social system is best in which "productive property" is widely dispersed rather than concentrated. They contend that the market order undermines community life and introduces an intolerable level of insecurity and anxiety into the economic life of the ordinary person. They would, therefore, limit business competition and implement a system of punitive taxation against firms that had ...

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