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distributism : also known as distributionism and distributivism, is an anti-capitalist economic philosophy formulated by such Catholic thinkers as G. K. Chesterton and Hilaire Belloc to apply the principles of social justice theoretically articulated by the Roman Catholic Church. According to distributism, the ownership of the means of production should be spread as widely as possible among the populace, rather than being centralized under the control of a few state bureaucrats (some forms of socialism) or a minority of resource-commanding individuals ((((((((((((capitalism). A summary of distributism is found in Chesterton's statement: "Too much capitalism does not mean too many capitalists, but too few capitalists" ("The Uses of Diversity", 1921).
Distributism has often been described as a third way of economic order besides socialism and capitalism. It is now sometimes seen more realistically as an aspiration, which has been successfully realised in the short term by commitment to the principles of subsidarity and solidarity (these being built into financially independent local co-operatives). However, the elimination therein of usury and similar percentage-based profiteering in trade will need to be theoretically justified (in terms of the laws of circulation), and legally generalised (by restatement of business aims in company and banking law), if this system is to be a stable "third way" in the long term, rather than a strand in a mixed economy, forever defending itself against predatory capitalists.
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