Over the past five years, many conservatives and religiously-inclined people have been turning to the works of Hilaire Belloc and G.K. Chesterton as part of an effort to rethink the nature of economic life. Both these figures wrote about many other things than economics – and some would say that, for all their insights as Christian apologists, economics was never their strong point. Indeed many of their economic writings were heavily criticized when they were initially published in Britain and the United States. Here is an example of one such critique that appeared when Belloc’s The Servile State was first published under an American imprint in 1947. It repays close reading.