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.
From Mises Daily: Belloc’s Puzzling Manifesto by Garet Garrett.
Having proved by logic that capitalism, socialism and collectivism all tend inevitably to bring the servile state to pass, Belloc comes to speak of the solution and there his distributive state fails him. The way back to that state of society in which ownership of “the springs of life” shall be happily universal is a road of appalling difficulties. They are perhaps insurmountable. Suppose you think of doing it boldly, as to say, “all shall own,” instead of saying, as the collectivists would, “none shall own.” Very good. But by what scale of justice shall this new ownership be apportioned among the people? What will the people do with it? How would you keep the many from selling it back to the few?